Key Points
- CSX CFO Kevin Boone sold 136,708 shares on June 3 at an average price of $46.70, generating about $6.38 million. After the sale, he still owned 208,622 shares, cutting his stake by 39.59%.
- CSX reported solid quarterly results, posting EPS of $0.43 versus analyst expectations of $0.39, while revenue came in at $3.48 billion, slightly below estimates. Revenue still rose 1.7% year over year.
- The company recently announced a quarterly dividend of $0.14 per share, payable June 15, implying an annualized payout of $0.56 and a yield of about 1.2%. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $46.42.
CSX Corporation (NASDAQ:CSX - Get Free Report) CFO Kevin Boone sold 136,708 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the completion of the sale, the chief financial officer directly owned 208,622 shares in the company, valued at $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
CSX Price Performance
CSX stock opened at $46.99 on Friday. The company's 50 day simple moving average is $44.12 and its 200-day simple moving average is $40.10. The company has a market capitalization of $87.31 billion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 2.40 and a beta of 1.22. CSX Corporation has a 1 year low of $31.80 and a 1 year high of $47.25. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.83 and a current ratio of 0.97.
CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.04. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.50 billion. CSX had a net margin of 21.55% and a return on equity of 24.47%. The business's revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. As a group, equities research analysts expect that CSX Corporation will post 1.9 earnings per share for the current year.
CSX Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, May 29th. CSX's payout ratio is 34.36%.
Institutional Trading of CSX
A number of large investors have recently made changes to their positions in the company. Cohen & Steers Inc. increased its stake in shares of CSX by 1.2% during 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 period. Rhumbline Advisers increased its stake in shares of CSX by 0.3% during the third quarter. Rhumbline Advisers now owns 3,450,199 shares of the transportation company's stock worth $122,516,000 after buying an additional 8,639 shares during the period. Cbre Investment Management Listed Real Assets LLC increased its stake in shares of 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 buying an additional 425,395 shares during the period. Captrust Financial Advisors increased its stake in shares of CSX by 4.4% during the fourth quarter. Captrust Financial Advisors now owns 423,312 shares of the transportation company's stock worth $15,345,000 after buying an additional 18,025 shares during the period. Finally, Miller Howard Investments Inc. NY increased its stake in shares of CSX by 6.8% during the first quarter. Miller Howard Investments Inc. NY now owns 238,817 shares of the transportation company's stock worth $9,803,000 after buying an additional 15,310 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. Barclays reaffirmed an "overweight" rating and set a $47.00 target price (up from $40.00) on shares of CSX in a research note on Thursday, April 23rd. Benchmark upped their target price on shares of CSX from $46.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Evercore upped their target price on shares of CSX from $44.00 to $46.00 in a research note on Monday, May 11th. Robert W. Baird upped their target price on shares of CSX from $47.00 to $49.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 19th. Finally, Argus upped their target price on shares of CSX from $42.00 to $52.00 and gave the stock a "buy" rating in a research note on Friday, May 22nd. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $46.42.
Read Our Latest Analysis on CSX
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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