CSX (NASDAQ:CSX) Coverage Initiated at Goldman Sachs Group
Goldman Sachs Group started coverage on shares of CSX (NASDAQ:CSX) in a research report report published on Wednesday morning, The Fly reports. The brokerage issued a neutral rating and a $86.00 target price on the transportation company’s stock.
Other equities research analysts have also recently issued research reports about the stock. Credit Suisse Group reaffirmed an underperform rating on shares of MARKS & SPENCER/S in a report on Wednesday, April 17th. BidaskClub cut shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, June 26th. Stifel Nicolaus set a $80.00 price target on shares of CSX and gave the stock a hold rating in a report on Wednesday, April 17th. ValuEngine cut shares of Acceleron Pharma from a strong-buy rating to a buy rating in a report on Thursday, April 18th. Finally, BMO Capital Markets began coverage on shares of Yelp in a report on Wednesday, April 17th. They issued an outperform rating on the stock. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $79.18.
CSX stock opened at $78.58 on Wednesday. CSX has a 52 week low of $58.47 and a 52 week high of $80.73. The business’s 50 day moving average price is $77.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.68 and a current ratio of 1.81. The company has a market cap of $62.51 billion, a PE ratio of 20.46, a P/E/G ratio of 1.35 and a beta of 1.22.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.22%. CSX’s dividend payout ratio is 25.00%.
In related news, EVP Nathan D. Goldman sold 7,000 shares of CSX stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total value of $556,500.00. Following the completion of the transaction, the executive vice president now directly owns 79,697 shares in the company, valued at approximately $6,335,911.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Angela C. Williams sold 9,560 shares of CSX stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $79.14, for a total transaction of $756,578.40. Following the completion of the transaction, the vice president now owns 14,607 shares of the company’s stock, valued at $1,155,997.98. The disclosure for this sale can be found here. 4.83% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Suntrust Banks Inc. grew its stake in CSX by 15.2% in the 4th quarter. Suntrust Banks Inc. now owns 342,170 shares of the transportation company’s stock valued at $21,259,000 after buying an additional 45,146 shares in the last quarter. Toronto Dominion Bank grew its position in shares of CSX by 12.9% during the 1st quarter. Toronto Dominion Bank now owns 548,518 shares of the transportation company’s stock valued at $41,029,000 after purchasing an additional 62,798 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new position in shares of CSX during the 4th quarter valued at $221,000. Natixis Advisors L.P. grew its position in shares of CSX by 8.8% during the 4th quarter. Natixis Advisors L.P. now owns 133,539 shares of the transportation company’s stock valued at $8,296,000 after purchasing an additional 10,835 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of CSX by 1.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 90,140 shares of the transportation company’s stock valued at $6,744,000 after purchasing an additional 1,493 shares in the last quarter. Institutional investors and hedge funds own 75.68% of the company’s stock.
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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