CSX Sees Unusually Large Options Volume (NASDAQ:CSX)

CSX Corporation (NASDAQ:CSX) was the recipient of unusually large options trading activity on Monday. Traders purchased 31,140 call options on the stock. This is an increase of approximately 121% compared to the typical volume of 14,092 call options.

CSX Trading Down 1.0%

CSX stock traded down $0.48 during midday trading on Monday, reaching $48.20. The stock had a trading volume of 2,671,945 shares, compared to its average volume of 12,341,714. The firm has a market cap of $89.28 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 2.30 and a beta of 1.21. CSX has a twelve month low of $33.63 and a twelve month high of $53.60. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The business has a fifty day simple moving average of $48.77 and a two-hundred day simple moving average of $47.37.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the company posted $0.44 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. As a group, research analysts expect that CSX will post 1.99 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a dividend of $0.14 per share. 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 Monday, November 30th. CSX’s payout ratio is 32.37%.

Wall Street Analysts Forecast Growth

CSX has been the topic of several research analyst reports. Weiss Ratings raised shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada cut their target price on shares of CSX from $54.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th. Stephens initiated coverage on shares of CSX in a research report on Wednesday, July 8th. They set an “overweight” rating and a $57.00 price target on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $59.00 target price on shares of CSX in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. decreased their price target on shares of CSX from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. Seventeen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $51.17.

Insider Transactions at CSX

In other CSX news, SVP Michael Burns sold 13,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the transaction, the senior vice president owned 59,643 shares in the company, valued at $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Angela Williams sold 30,000 shares of CSX stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $53.29, for a total value of $1,598,700.00. Following the sale, the chief accounting officer directly owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On CSX

Large investors have recently bought and sold shares of the business. Optivise Advisory Services LLC raised its position in shares of CSX by 5.6% during the 3rd quarter. Optivise Advisory Services LLC now owns 7,542 shares of the transportation company’s stock valued at $351,000 after acquiring an additional 400 shares during the last quarter. Robertson Stephens Wealth Management LLC lifted its stake in shares of CSX by 18.8% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 19,504 shares of the transportation company’s stock valued at $907,000 after purchasing an additional 3,087 shares during the period. Counterpoint Mutual Funds LLC bought a new position in shares of CSX in the 3rd quarter worth $271,000. USA Financial Formulas bought a new position in shares of CSX in the 3rd quarter worth $1,415,000. Finally, Kintegral Advisory LLC boosted its position in shares of CSX by 0.6% in the 3rd quarter. Kintegral Advisory LLC now owns 40,384 shares of the transportation company’s stock worth $1,878,000 after purchasing an additional 228 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

About CSX

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.