Michael Burns Sells 13,000 Shares of CSX (NASDAQ:CSX) Stock

CSX Corporation (NASDAQ:CSX) SVP Michael Burns sold 13,000 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the transaction, the senior vice president owned 59,643 shares in the company, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

CSX Stock Down 0.2%

CSX stock opened at $50.74 on Thursday. CSX Corporation has a one year low of $31.80 and a one year high of $53.60. The stock has a fifty day moving average of $48.00 and a 200 day moving average of $43.54. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The stock has a market cap of $93.99 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 2.35 and a beta of 1.21.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the company posted $0.44 EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts predict that CSX Corporation will post 1.98 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s payout ratio is 32.37%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CSX. Wells Fargo & Company lifted their price target on shares of CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. lifted their target price on CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Morgan Stanley set a $32.00 price target on CSX and gave the stock an “underweight” rating in a research report on Monday, July 6th. Vertical Research cut CSX from a “buy” rating to a “hold” rating and set a $44.00 price objective on the stock. in a research report on Thursday, April 23rd. Finally, Evercore set a $51.00 price objective on CSX in a research note on Thursday, July 23rd. Seventeen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.17.

Hedge Funds Weigh In On CSX

A number of hedge funds have recently made changes to their positions in CSX. Arlington Trust Co LLC grew its position in shares of CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after purchasing an additional 250 shares in the last quarter. Allied Private Wealth LLC purchased a new stake in CSX during the 2nd quarter valued at approximately $37,000. Wilkerson Advisory Group LLC raised its position in shares of CSX by 97.4% during the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after buying an additional 409 shares during the last quarter. WFA of San Diego LLC purchased a new position in shares of CSX in the second quarter worth $28,000. Finally, CrossGen Wealth LLC bought a new position in shares of CSX during the fourth quarter worth $54,000. Institutional investors own 73.57% of the company’s stock.

CSX Company Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.