CSX (NASDAQ:CSX) CFO Sells $6,384,263.60 in Stock

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

CSX Price Performance

NASDAQ:CSX opened at $46.99 on Monday. The firm’s fifty day moving average is $44.12 and its two-hundred day moving average is $40.15. The firm has a market cap of $87.31 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 2.44 and a beta of 1.22. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.83 and a current ratio of 0.97. CSX Corporation has a one year low of $31.80 and a one year high of $47.25.

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

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders 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 yield of 1.2%. CSX’s dividend payout ratio is currently 34.36%.

Institutional Investors Weigh In On CSX

Several hedge funds have recently modified their holdings of the company. Rathbones Group PLC grew its position in shares of CSX by 20.6% in the third quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company’s stock valued at $7,367,000 after purchasing an additional 35,403 shares during the period. Canada Post Corp Registered Pension Plan lifted its position in CSX by 34.2% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock worth $3,498,000 after buying an additional 24,566 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its stake in CSX by 81.9% in the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock worth $33,555,000 after buying an additional 425,395 shares during the last quarter. Reaves W H & Co. Inc. purchased a new stake in CSX in the 3rd quarter valued at about $5,326,000. Finally, SOA Wealth Advisors LLC. grew its holdings in CSX by 26.0% in the 4th quarter. SOA Wealth Advisors LLC. now owns 111,914 shares of the transportation company’s stock valued at $4,057,000 after buying an additional 23,072 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CSX shares. Bank of America upped their price objective on shares of CSX from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Robert W. Baird upped their price target on CSX from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Vertical Research cut CSX from a “buy” rating to a “hold” rating and set a $44.00 target price for the company. in a research note on Thursday, April 23rd. Sanford C. Bernstein boosted their price objective on CSX from $36.00 to $39.00 and gave the company a “market perform” rating in a research note on Tuesday, March 31st. Finally, Raymond James Financial increased their price target on CSX from $45.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.42.

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.