Traders Sell CSX (CSX) on Strength (CSX)
Traders sold shares of CSX Co. (NASDAQ:CSX) on strength during trading on Thursday. $51.95 million flowed into the stock on the tick-up and $111.10 million flowed out of the stock on the tick-down, for a money net flow of $59.15 million out of the stock. Of all equities tracked, CSX had the 0th highest net out-flow for the day. CSX traded up $0.42 for the day and closed at $65.75
CSX has been the subject of several analyst reports. Morgan Stanley boosted their target price on CSX from $47.00 to $48.00 and gave the stock an “underweight” rating in a research report on Friday, April 6th. Deutsche Bank set a $79.00 target price on CSX and gave the stock a “buy” rating in a research report on Friday. BidaskClub upgraded CSX from a “sell” rating to a “hold” rating in a report on Saturday, February 17th. UBS Group set a $75.00 price objective on CSX and gave the company a “buy” rating in a report on Wednesday, April 18th. Finally, ValuEngine upgraded CSX from a “hold” rating to a “buy” rating in a report on Wednesday, April 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $65.48.
The company has a market cap of $57.55 billion, a P/E ratio of 29.16, a P/E/G ratio of 1.51 and a beta of 1.22. The company has a quick ratio of 1.68, a current ratio of 1.87 and a debt-to-equity ratio of 0.96.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.31%. The ex-dividend date is Wednesday, May 30th. CSX’s payout ratio is 38.26%.
CSX announced that its board has approved a stock buyback plan on Monday, February 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the transportation company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other news, CEO James M. Foote bought 5,000 shares of the business’s stock in a transaction on Wednesday, May 2nd. The shares were purchased at an average price of $59.91 per share, for a total transaction of $299,550.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.03% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSX. Dowling & Yahnke LLC increased its position in shares of CSX by 4.6% during the 1st quarter. Dowling & Yahnke LLC now owns 19,651 shares of the transportation company’s stock worth $1,095,000 after purchasing an additional 859 shares during the last quarter. Sapphire Star Partners LP increased its position in shares of CSX by 6.8% during the 1st quarter. Sapphire Star Partners LP now owns 13,562 shares of the transportation company’s stock worth $756,000 after purchasing an additional 862 shares during the last quarter. Morse Asset Management Inc increased its position in shares of CSX by 1.4% during the 1st quarter. Morse Asset Management Inc now owns 63,065 shares of the transportation company’s stock worth $3,513,000 after purchasing an additional 900 shares during the last quarter. M&T Bank Corp increased its position in shares of CSX by 0.4% during the 4th quarter. M&T Bank Corp now owns 229,184 shares of the transportation company’s stock worth $12,608,000 after purchasing an additional 993 shares during the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of CSX by 4.8% during the 4th quarter. Moors & Cabot Inc. now owns 22,817 shares of the transportation company’s stock worth $1,267,000 after purchasing an additional 1,051 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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