CSX Corp. (CSX) President Clarence W. Gooden Sells 17,332 Shares
CSX Corp. (NASDAQ:CSX) President Clarence W. Gooden sold 17,332 shares of the company’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $29.44, for a total value of $510,254.08. Following the completion of the transaction, the president now directly owns 127,954 shares in the company, valued at approximately $3,766,965.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of CSX Corp. (NASDAQ:CSX) opened at 30.01 on Thursday. CSX Corp. has a 52-week low of $21.33 and a 52-week high of $30.53. The firm’s 50-day moving average price is $28.69 and its 200-day moving average price is $27.11. The firm has a market capitalization of $28.39 billion, a PE ratio of 16.38 and a beta of 1.32.
CSX Corp. (NASDAQ:CSX) last posted its earnings results on Wednesday, July 13th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.03. The company earned $2.70 billion during the quarter, compared to analyst estimates of $2.69 billion. CSX Corp. had a return on equity of 15.24% and a net margin of 16.07%. The business’s revenue was down 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 earnings per share. On average, equities analysts predict that CSX Corp. will post $1.75 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 2.40%. CSX Corp.’s dividend payout ratio is presently 39.13%.
Several research firms recently issued reports on CSX. Credit Suisse Group AG reiterated a “buy” rating on shares of CSX Corp. in a report on Tuesday, September 13th. Wolfe Research upgraded CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a report on Tuesday, September 13th. Citigroup Inc. boosted their price objective on CSX Corp. from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. Bank of America Corp. reiterated a “buy” rating and issued a $32.00 price objective on shares of CSX Corp. in a report on Monday, September 12th. Finally, Barclays PLC upgraded CSX Corp. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $30.00 to $35.00 in a report on Monday, September 12th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $29.54.
Several institutional investors have recently modified their holdings of the company. Sentry Investment Management LLC increased its position in shares of CSX Corp. by 11.8% in the first quarter. Sentry Investment Management LLC now owns 73,572 shares of the company’s stock valued at $1,894,000 after buying an additional 7,768 shares in the last quarter. BlackRock Japan Co. Ltd increased its position in shares of CSX Corp. by 2.1% in the first quarter. BlackRock Japan Co. Ltd now owns 1,242,296 shares of the company’s stock valued at $31,989,000 after buying an additional 25,962 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of CSX Corp. by 2.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 27,059,923 shares of the company’s stock valued at $696,793,000 after buying an additional 684,835 shares in the last quarter. BlackRock Group LTD increased its position in shares of CSX Corp. by 4.8% in the first quarter. BlackRock Group LTD now owns 8,321,448 shares of the company’s stock valued at $214,278,000 after buying an additional 384,801 shares in the last quarter. Finally, FDO Partners LLC acquired a new position in shares of CSX Corp. during the first quarter valued at about $252,000. Institutional investors and hedge funds own 68.55% of the company’s stock.
CSX Corp. Company Profile
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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