CSX Sees Unusually Large Options Volume (NASDAQ:CSX)

CSX Co. (NASDAQ:CSX) was the recipient of unusually large options trading on Tuesday. Stock traders bought 19,660 call options on the company. This is an increase of 179% compared to the typical daily volume of 7,046 call options.

Analyst Ratings Changes

A number of research firms have recently commented on CSX. Bank of America increased their price target on shares of CSX from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, May 12th. UBS Group cut their price target on CSX from $36.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Stifel Nicolaus reduced their price objective on shares of CSX from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group reiterated a “neutral” rating and set a $35.00 target price on shares of CSX in a research report on Monday, June 2nd. Finally, BMO Capital Markets dropped their price target on CSX from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $33.95.

Institutional Trading of CSX

Large investors have recently added to or reduced their stakes in the company. Modern Wealth Management LLC lifted its stake in CSX by 9.8% during the 1st quarter. Modern Wealth Management LLC now owns 17,518 shares of the transportation company’s stock valued at $516,000 after acquiring an additional 1,564 shares during the period. Strs Ohio purchased a new stake in shares of CSX in the first quarter worth about $29,614,000. Foresight Group Ltd Liability Partnership acquired a new stake in CSX during the first quarter worth about $1,504,000. Jacobi Capital Management LLC raised its position in CSX by 9.7% during the first quarter. Jacobi Capital Management LLC now owns 43,356 shares of the transportation company’s stock valued at $1,276,000 after acquiring an additional 3,834 shares in the last quarter. Finally, Belpointe Asset Management LLC raised its position in CSX by 32.8% during the first quarter. Belpointe Asset Management LLC now owns 9,875 shares of the transportation company’s stock valued at $291,000 after acquiring an additional 2,438 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Up 2.6%

Shares of NASDAQ:CSX traded up $0.85 during trading on Tuesday, reaching $32.83. 14,256,071 shares of the company were exchanged, compared to its average volume of 13,160,541. The business’s fifty day simple moving average is $29.32 and its 200-day simple moving average is $31.32. The firm has a market capitalization of $61.67 billion, a PE ratio of 18.35, a P/E/G ratio of 1.92 and a beta of 1.24. CSX has a 12-month low of $26.22 and a 12-month high of $37.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, research analysts anticipate that CSX will post 1.83 EPS for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, May 30th. CSX’s dividend payout ratio (DPR) is presently 31.14%.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.