CSX (NASDAQ:CSX) CEO Stephen Angel Buys 25,000 Shares of Stock

CSX Corporation (NASDAQ:CSX) CEO Stephen Angel bought 25,000 shares of CSX stock in a transaction on Friday, March 6th. The stock was acquired at an average cost of $40.27 per share, for a total transaction of $1,006,750.00. Following the acquisition, the chief executive officer owned 146,540 shares in the company, valued at approximately $5,901,165.80. This represents a 20.57% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

CSX Price Performance

Shares of CSX stock traded down $1.20 during trading on Friday, reaching $39.95. 14,448,864 shares of the company’s stock were exchanged, compared to its average volume of 14,247,985. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.69 and a current ratio of 0.81. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $43.35. The company has a market cap of $74.29 billion, a P/E ratio of 25.94, a PEG ratio of 2.18 and a beta of 1.27. The firm’s 50-day moving average price is $38.72 and its 200 day moving average price is $36.27.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.59 billion. CSX had a net margin of 20.50% and a return on equity of 23.88%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. As a group, research analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from CSX’s previous quarterly dividend of $0.13. CSX’s payout ratio is currently 36.36%.

Institutional Investors Weigh In On CSX

A number of institutional investors have recently modified their holdings of the company. Syon Capital LLC raised its stake in CSX by 1.0% during the 4th quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock worth $1,026,000 after buying an additional 287 shares during the period. Root Financial Partners LLC increased its holdings in shares of CSX by 7.3% during the fourth quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock valued at $172,000 after acquiring an additional 323 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of CSX by 4.1% during the third quarter. Kingswood Wealth Advisors LLC now owns 8,324 shares of the transportation company’s stock worth $296,000 after purchasing an additional 331 shares during the period. Moloney Securities Asset Management LLC lifted its holdings in shares of CSX by 2.7% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 13,048 shares of the transportation company’s stock worth $463,000 after purchasing an additional 339 shares in the last quarter. Finally, Walled Lake Planning & Wealth Management LLC lifted its holdings in shares of CSX by 2.7% in the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock worth $480,000 after purchasing an additional 346 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CSX has been the subject of a number of recent research reports. Citigroup lowered their target price on CSX from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 23rd. Raymond James Financial boosted their price target on CSX from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $36.00 price objective (down from $37.00) on shares of CSX in a research note on Friday, January 23rd. Evercore dropped their price objective on shares of CSX from $41.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, January 23rd. Finally, Argus lifted their target price on shares of CSX from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Nineteen analysts have rated the stock with a Buy rating and six have given 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 $40.10.

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.