Insider Selling: CSX (NASDAQ:CSX) EVP Sells $1,120,702.77 in Stock

CSX Corporation (NASDAQ:CSX) EVP Kevin Boone sold 31,053 shares of CSX stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $36.09, for a total transaction of $1,120,702.77. Following the completion of the transaction, the executive vice president directly owned 197,521 shares of the company’s stock, valued at $7,128,532.89. This trade represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

CSX Stock Up 1.7%

Shares of CSX stock opened at $36.13 on Monday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.71 and a current ratio of 0.85. The stock has a market capitalization of $67.28 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.82 and a beta of 1.29. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.25. The company has a 50-day simple moving average of $34.34 and a two-hundred day simple moving average of $32.77.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, October 16th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.60 billion. CSX had a net margin of 20.55% and a return on equity of 24.95%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. On average, analysts anticipate that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.52 annualized dividend and a yield of 1.4%. CSX’s payout ratio is 33.99%.

Analysts Set New Price Targets

CSX has been the subject of several research reports. Royal Bank Of Canada boosted their price objective on shares of CSX from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Evercore ISI reissued an “outperform” rating and set a $39.00 price objective (up from $37.00) on shares of CSX in a report on Friday, October 17th. TD Cowen boosted their price objective on shares of CSX from $38.00 to $39.00 and gave the company a “buy” rating in a report on Friday, October 17th. Jefferies Financial Group set a $42.00 price objective on shares of CSX and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Citigroup boosted their price objective on shares of CSX from $41.00 to $42.00 in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.09.

Institutional Trading of CSX

Large investors have recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC bought a new stake in CSX during the second quarter valued at approximately $25,000. WFA of San Diego LLC bought a new stake in CSX during the second quarter valued at approximately $28,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of CSX in the first quarter worth approximately $30,000. Rossby Financial LCC bought a new position in shares of CSX in the first quarter worth approximately $28,000. Finally, Kessler Investment Group LLC bought a new position in shares of CSX in the first quarter worth approximately $32,000. 73.57% of the stock is currently owned by institutional investors.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.