CSX (NASDAQ:CSX) CEO Purchases $1,006,750.00 in Stock

CSX Corporation (NASDAQ:CSX) CEO Stephen Angel acquired 25,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was acquired at an average cost of $40.27 per share, for a total transaction of $1,006,750.00. Following the completion of the purchase, the chief executive officer directly owned 146,540 shares of the company’s stock, valued at approximately $5,901,165.80. This represents a 20.57% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

CSX Stock Down 2.9%

Shares of NASDAQ:CSX traded down $1.20 during midday trading on Friday, hitting $39.95. 14,448,864 shares of the company’s stock were exchanged, compared to its average volume of 14,247,985. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.81 and a quick ratio of 0.69. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $43.35. The company has a market cap of $74.29 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 2.18 and a beta of 1.27. The stock has a 50 day moving average price of $38.72 and a 200-day moving average price of $36.27.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.59 billion. CSX had a net margin of 20.50% and a return on equity of 23.88%. CSX’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. On average, sell-side analysts anticipate that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from CSX’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. CSX’s payout ratio is presently 36.36%.

Analysts Set New Price Targets

CSX has been the topic of several recent analyst reports. TD Cowen restated a “buy” rating on shares of CSX in a research note on Monday, January 12th. BMO Capital Markets reiterated a “market perform” rating on shares of CSX in a report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of CSX from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Evercore decreased their price objective on shares of CSX from $41.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, January 23rd. Finally, Argus boosted their target price on CSX from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Nineteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $40.10.

Institutional Trading of CSX

Several hedge funds have recently added to or reduced their stakes in CSX. Twin Peaks Wealth Advisors LLC bought a new stake in shares of CSX during the 2nd quarter valued at $25,000. FNY Investment Advisers LLC lifted its holdings in shares of CSX by 437.3% in the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock worth $25,000 after buying an additional 586 shares in the last quarter. WFA of San Diego LLC bought a new position in shares of CSX in the second quarter valued at approximately $28,000. Pinnacle Bancorp Inc. grew its stake in CSX by 121.5% during the third quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 729 shares in the last quarter. Finally, CrossGen Wealth LLC purchased a new position in CSX during the fourth quarter valued at approximately $54,000. Institutional investors own 73.57% of the company’s stock.

CSX Company Profile

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.