CSX (NASDAQ:CSX) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of CSX (NASDAQ:CSX) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Other equities research analysts have also issued reports about the company. Rothschild & Co Redburn increased their price target on CSX from $45.50 to $47.50 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Evercore set a $51.00 price objective on CSX in a research report on Thursday, July 23rd. Robert W. Baird boosted their price objective on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Truist Financial set a $46.00 price objective on CSX in a research note on Friday, July 10th. Finally, Wolfe Research restated an “outperform” rating and set a $50.00 target price on shares of CSX in a report on Thursday, April 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.31.

CSX Trading Down 0.3%

Shares of CSX stock opened at $50.12 on Friday. The company has a market capitalization of $92.85 billion, a P/E ratio of 28.97, a P/E/G ratio of 2.29 and a beta of 1.21. CSX has a 12-month low of $31.80 and a 12-month high of $53.60. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The firm has a 50-day moving average price of $48.72 and a 200 day moving average price of $44.36.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 earnings per share. Research analysts forecast that CSX will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s payout ratio is 32.37%.

Insider Activity at CSX

In other CSX news, Director John J. Zillmer sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the transaction, the director owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $53.29, for a total value of $1,598,700.00. Following the completion of the transaction, the chief accounting officer owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 189,708 shares of company stock worth $9,132,304. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On CSX

Several hedge funds have recently added to or reduced their stakes in CSX. Canada Post Corp Registered Pension Plan lifted its stake in shares of CSX by 34.2% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock valued at $3,498,000 after purchasing an additional 24,566 shares during the period. Farther Finance Advisors LLC boosted its position in shares of CSX by 159.5% in the 4th quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company’s stock worth $2,661,000 after purchasing an additional 45,116 shares during the last quarter. KTF Investments LLC acquired a new stake in shares of CSX during the fourth quarter worth $1,325,000. BNB Wealth Management LLC bought a new stake in CSX in the fourth quarter valued at about $1,125,000. Finally, Allstate Corp increased its holdings in CSX by 105.7% in the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company’s stock valued at $4,962,000 after purchasing an additional 70,326 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

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.