Insider Selling: CSX (NASDAQ:CSX) Director Sells 10,000 Shares of Stock

CSX Corporation (NASDAQ:CSX) Director John Zillmer sold 10,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the transaction, the director directly owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

CSX Trading Down 0.5%

Shares of NASDAQ:CSX traded down $0.21 during trading on Thursday, reaching $46.23. The company’s stock had a trading volume of 10,557,888 shares, compared to its average volume of 13,419,688. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $85.90 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 2.40 and a beta of 1.22. CSX Corporation has a 12 month low of $31.64 and a 12 month high of $47.25. The firm’s 50 day simple moving average is $43.83 and its two-hundred day simple moving average is $39.97.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.50 billion. CSX had a net margin of 21.55% and a return on equity of 24.47%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. On average, research analysts predict that CSX Corporation will post 1.9 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.56 annualized dividend and a yield of 1.2%. CSX’s dividend payout ratio (DPR) is presently 34.36%.

Analysts Set New Price Targets

CSX has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on shares of CSX from $42.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. TD Cowen raised their price objective on shares of CSX from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Evercore raised their price objective on shares of CSX from $44.00 to $46.00 in a research note on Monday, May 11th. Jefferies Financial Group raised their price objective on shares of CSX from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, Wolfe Research reissued an “outperform” rating and issued a $50.00 price objective on shares of CSX in a research note on Thursday, April 23rd. Sixteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $45.98.

Hedge Funds Weigh In On CSX

A number of institutional investors have recently modified their holdings of CSX. Brighton Jones LLC increased its position in shares of CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after acquiring an additional 849 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in CSX by 3.2% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock valued at $2,428,000 after buying an additional 2,281 shares during the period. WFA of San Diego LLC purchased a new position in CSX during the second quarter valued at approximately $28,000. Captrust Financial Advisors increased its holdings in CSX by 0.8% during the second quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock valued at $13,242,000 after buying an additional 3,162 shares during the period. Finally, Cornerstone Planning Group LLC increased its holdings in CSX by 63.5% during the third quarter. Cornerstone Planning Group LLC now owns 2,470 shares of the transportation company’s stock valued at $88,000 after buying an additional 959 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

About CSX

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.