Traders Sell CSX (CSX) on Strength (CSX)
Traders sold shares of CSX Co. (NASDAQ:CSX) on strength during trading hours on Monday. $280.74 million flowed into the stock on the tick-up and $377.13 million flowed out of the stock on the tick-down, for a money net flow of $96.39 million out of the stock. Of all stocks tracked, CSX had the 0th highest net out-flow for the day. CSX traded up $0.66 for the day and closed at $53.59
A number of brokerages have issued reports on CSX. TD Securities lowered CSX from a “buy” rating to a “hold” rating and cut their target price for the company from $63.00 to $54.00 in a research report on Monday. UBS set a $68.00 target price on CSX and gave the company a “buy” rating in a research report on Sunday. Scotiabank set a $55.00 price target on shares of CSX and gave the stock a “buy” rating in a research note on Friday. Barclays restated a “buy” rating and issued a $68.00 price target on shares of CSX in a research note on Wednesday, December 13th. Finally, BidaskClub upgraded shares of CSX from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company. CSX has an average rating of “Hold” and a consensus target price of $56.73.
The stock has a market capitalization of $47,304.76, a PE ratio of 24.62, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35. The company has a current ratio of 1.05, a quick ratio of 0.86 and a debt-to-equity ratio of 1.08.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.80 dividend on an annualized basis and a yield of 1.49%. CSX’s dividend payout ratio (DPR) is presently 41.24%.
CSX announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Gary Keith Anderson purchased 5,000 shares of CSX stock in a transaction that occurred on Friday, November 24th. The stock was purchased at an average cost of $2,300.00 per share, with a total value of $11,500,000.00. 4.79% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in CSX. Parallel Advisors LLC raised its holdings in CSX by 14.9% during the second quarter. Parallel Advisors LLC now owns 2,194 shares of the transportation company’s stock worth $108,000 after purchasing an additional 285 shares in the last quarter. Americafirst Capital Management LLC purchased a new position in CSX during the third quarter worth about $308,000. Valeo Financial Advisors LLC purchased a new position in CSX during the third quarter worth about $196,000. ARGI Investment Services LLC purchased a new position in CSX during the second quarter worth about $208,000. Finally, BKS Advisors LLC purchased a new position in CSX during the second quarter worth about $221,000. 70.24% of the stock is owned by institutional investors and hedge funds.
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CSX Company Profile
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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