CSX (NASDAQ:CSX) SVP Sells $684,840.00 in Stock

CSX Corporation (NASDAQ:CSX) SVP Michael Burns sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares of the company’s stock, valued at $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 SEC, which is accessible through this hyperlink.

CSX Trading Down 1.1%

Shares of NASDAQ CSX opened at $50.19 on Friday. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60. The company has a market cap of $92.98 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 2.34 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The stock’s 50 day simple moving average is $48.09 and its 200 day simple moving average is $43.64.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping 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 firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the business earned $0.44 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. Equities research analysts expect that CSX Corporation will post 1.98 EPS for the current year.

CSX Announces Dividend

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

Institutional Trading of CSX

A number of large investors have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in shares of CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after acquiring an additional 849 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of CSX by 3.2% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock worth $2,428,000 after purchasing an additional 2,281 shares during the period. WFA of San Diego LLC purchased a new stake in shares of CSX during the second quarter valued at $28,000. Captrust Financial Advisors lifted its holdings in shares of CSX by 0.8% during the second 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 last quarter. Finally, Horizon Investments LLC boosted its position in shares of CSX by 22.5% in the 3rd quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock valued at $5,268,000 after purchasing an additional 27,280 shares during the period. 73.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CSX shares. Truist Financial set a $46.00 price objective on shares of CSX in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $59.00 price target on shares of CSX in a research note on Friday, July 24th. TD Cowen lifted their price target on CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Stifel Nicolaus set a $54.00 price objective on CSX in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group upped their price objective on CSX from $50.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average target price of $51.17.

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.