Clarence W. Gooden Sells 16,129 Shares of CSX Corp. (CSX) Stock
CSX Corp. (NASDAQ:CSX) President Clarence W. Gooden sold 16,129 shares of CSX Corp. stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $31.00, for a total value of $499,999.00. Following the sale, the president now directly owns 127,954 shares in the company, valued at $3,966,574. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of CSX Corp. (NASDAQ:CSX) opened at 30.47 on Wednesday. The stock’s 50 day moving average is $29.29 and its 200 day moving average is $27.38. CSX Corp. has a 12 month low of $21.33 and a 12 month high of $31.31. The stock has a market capitalization of $28.82 billion, a PE ratio of 16.63 and a beta of 1.23.
CSX Corp. (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.03. The business earned $2.70 billion during the quarter, compared to the consensus estimate of $2.69 billion. CSX Corp. had a net margin of 16.07% and a return on equity of 15.24%. The business’s revenue was down 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 EPS. Analysts anticipate that CSX Corp. will post $1.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a $0.18 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.36%. CSX Corp.’s dividend payout ratio is presently 39.13%.
Several equities analysts have recently issued reports on CSX shares. Oppenheimer Holdings Inc. started coverage on shares of CSX Corp. in a report on Wednesday, June 15th. They set a “market perform” rating for the company. Citigroup Inc. reiterated a “buy” rating and set a $29.00 target price on shares of CSX Corp. in a report on Saturday, June 18th. BMO Capital Markets reiterated an “outperform” rating and set a $29.00 target price on shares of CSX Corp. in a report on Thursday, July 7th. Stifel Nicolaus lowered shares of CSX Corp. from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. They noted that the move was a valuation call. Finally, Cowen and Company boosted their price objective on shares of CSX Corp. from $27.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, July 15th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $29.54.
Several institutional investors have recently made changes to their positions in the stock. Community Bank of Raymore increased its position in shares of CSX Corp. by 2.5% in the second quarter. Community Bank of Raymore now owns 741,373 shares of the company’s stock worth $19,328,000 after buying an additional 18,400 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of CSX Corp. by 1.6% in the first quarter. Legal & General Group Plc now owns 4,290,750 shares of the company’s stock worth $110,488,000 after buying an additional 66,790 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of CSX Corp. during the first quarter worth approximately $454,000. Capital Analysts LLC boosted its stake in shares of CSX Corp. by 241.5% in the second quarter. Capital Analysts LLC now owns 7,567 shares of the company’s stock worth $711,000 after buying an additional 5,351 shares during the last quarter. Finally, Simmons Bank acquired a new stake in shares of CSX Corp. during the first quarter worth approximately $329,000. Institutional investors and hedge funds own 68.55% of the company’s stock.
About CSX Corp.
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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