CSX (NASDAQ:CSX) CFO Sells 136,708 Shares

CSX Corporation (NASDAQ:CSX) CFO Kevin Boone sold 136,708 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the completion of the transaction, the chief financial officer owned 208,622 shares in the company, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

CSX Trading Up 1.6%

CSX stock traded up $0.76 during mid-day trading on Friday, hitting $46.99. The stock had a trading volume of 13,164,662 shares, compared to its average volume of 13,422,663. The stock has a 50-day simple moving average of $43.98 and a two-hundred day simple moving average of $40.05. The stock has a market capitalization of $87.31 billion, a PE ratio of 28.83, a P/E/G ratio of 2.41 and a beta of 1.22. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $47.25. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. CSX had a return on equity of 24.47% and a net margin of 21.55%.The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts forecast that CSX Corporation will post 1.9 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. CSX’s dividend payout ratio (DPR) is currently 34.36%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CSX. Argus increased their price objective on CSX from $42.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Rothschild & Co Redburn increased their price objective on CSX from $45.50 to $47.50 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Royal Bank Of Canada increased their price objective on CSX from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Vertical Research downgraded CSX from a “buy” rating to a “hold” rating and set a $44.00 price objective for the company. in a report on Thursday, April 23rd. Finally, BMO Capital Markets increased their price objective on CSX from $40.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC boosted its stake in CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after purchasing an additional 849 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its stake in CSX by 3.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock valued at $2,428,000 after purchasing an additional 2,281 shares during the period. WFA of San Diego LLC bought a new stake in CSX in the 2nd quarter valued at $28,000. Captrust Financial Advisors boosted its stake in CSX by 0.8% in the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock valued at $13,242,000 after purchasing an additional 3,162 shares during the period. Finally, Canada Post Corp Registered Pension Plan boosted its stake in CSX by 131.0% in the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 71,918 shares of the transportation company’s stock valued at $2,577,000 after purchasing an additional 40,780 shares during the period. 73.57% of the stock is currently owned by institutional investors.

About CSX

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.