Key Points
- CSX CEO Stephen Angel bought 25,000 shares on March 6 at an average price of $40.27, a $1,006,750 purchase that increased his holdings to 146,540 shares (a 20.57% rise), valued at about $5.9 million.
- CSX raised its quarterly dividend to $0.14 per share (from $0.13), an annualized $0.56 payout with a ~1.4% yield; the record/ex-dividend date was Feb. 27 and the dividend is payable Mar. 13.
- CSX missed the most recent quarter with EPS of $0.39 vs. $0.41 expected and revenue of $3.51B vs. $3.59B, though analysts collectively rate the stock a "Moderate Buy" with an average target of $40.10.
CSX Corporation (NASDAQ:CSX - Get Free Report) CEO Stephen Angel bought 25,000 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were bought at an average price of $40.27 per share, for a total transaction of $1,006,750.00. Following the completion of the transaction, the chief executive officer directly owned 146,540 shares of the company's stock, valued at $5,901,165.80. This represents a 20.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.
CSX Stock Performance
Shares of CSX opened at $39.95 on Friday. The business has a 50-day simple moving average of $38.79 and a two-hundred day simple moving average of $36.30. The company has a quick ratio of 0.69, a current ratio of 0.81 and a debt-to-equity ratio of 1.38. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $43.35. The stock has a market cap of $74.29 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 2.10 and a beta of 1.27.
CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Thursday, January 22nd. The transportation company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). The company had revenue of $3.51 billion for the quarter, compared to analysts' expectations of $3.59 billion. CSX had a net margin of 20.50% and a return on equity of 23.88%. The firm's quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 earnings per share. On average, analysts expect that CSX Corporation will post 1.83 EPS for the current year.
CSX Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a dividend of $0.14 per share. This is an increase from CSX's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, February 27th. CSX's payout ratio is presently 36.36%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on CSX. Raymond James Financial raised their price objective on shares of CSX from $40.00 to $41.00 and gave the company an "outperform" rating in a research report on Friday, January 23rd. Morgan Stanley set a $30.00 price target on CSX and gave the stock an "equal weight" rating in a research note on Monday, December 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of CSX in a report on Monday, December 29th. Rothschild & Co Redburn upped their price objective on CSX from $39.00 to $42.50 and gave the stock a "buy" rating in a research note on Friday, January 30th. Finally, Susquehanna reiterated a "neutral" rating and set a $39.00 target price on shares of CSX in a research report on Friday, January 23rd. Nineteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $40.10.
Get Our Latest Stock Report on CSX
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cbre Investment Management Listed Real Assets LLC increased its stake in CSX by 81.9% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company's stock worth $33,555,000 after acquiring an additional 425,395 shares during the last quarter. Pinebridge Investments LLC bought a new position in shares of CSX during the 4th quarter valued at approximately $5,979,000. Reaves W H & Co. Inc. purchased a new stake in CSX during the 3rd quarter valued at $5,326,000. Cohen & Steers Inc. lifted its position in CSX by 1.2% in the fourth quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company's stock worth $300,226,000 after buying an additional 98,977 shares during the last quarter. Finally, Allstate Corp lifted its position in CSX by 105.7% in the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company's stock worth $4,962,000 after buying an additional 70,326 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.
About CSX
(
Get Free Report)
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.
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