Insider Selling: CSX (NASDAQ:CSX) Director Sells 10,000 Shares of Stock

CSX Corporation (NASDAQ:CSX) Director John Zillmer sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the transaction, the director owned 353,714 shares of the company’s stock, valued at $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

CSX Price Performance

CSX stock traded down $0.21 during midday trading on Thursday, hitting $46.23. The company’s stock had a trading volume of 10,557,888 shares, compared to its average volume of 13,419,688. CSX Corporation has a 12 month low of $31.64 and a 12 month high of $47.25. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $85.90 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 2.40 and a beta of 1.22. The company has a 50 day moving average of $43.83 and a two-hundred day moving average of $39.97.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. CSX had a net margin of 21.55% and a return on equity of 24.47%. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, analysts expect that CSX Corporation will post 1.9 EPS for the current year.

CSX Announces Dividend

The company also recently disclosed 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 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 presently 34.36%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC lifted its holdings in shares of CSX by 437.3% in the 3rd quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 586 shares during the last quarter. WFA of San Diego LLC bought a new position in shares of CSX in the 2nd quarter valued at about $28,000. Wilkerson Advisory Group LLC lifted its holdings in shares of CSX by 97.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 409 shares during the last quarter. CrossGen Wealth LLC bought a new position in shares of CSX in the 4th quarter valued at about $54,000. Finally, Aventura Private Wealth LLC bought a new position in shares of CSX in the 4th quarter valued at about $63,000. Institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Vertical Research lowered CSX from a “buy” rating to a “hold” rating and set a $44.00 price objective for the company. in a research report on Thursday, April 23rd. Citigroup restated a “neutral” rating and set a $46.00 price objective (up from $44.00) on shares of CSX in a research report on Thursday, April 23rd. Rothschild & Co Redburn raised their price objective on CSX from $45.50 to $47.50 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Evercore raised their price objective on CSX from $44.00 to $46.00 in a research report on Monday, May 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CSX in a research report on Monday. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $45.98.

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.