CSX (NASDAQ:CSX) CFO Kevin Boone Sells 136,708 Shares

CSX Corporation (NASDAQ:CSX) CFO Kevin Boone sold 136,708 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the sale, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at $9,742,647.40. This represents a 39.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

CSX Stock Up 1.6%

CSX stock opened at $46.99 on Friday. The stock has a market capitalization of $87.31 billion, a P/E ratio of 28.83, a P/E/G ratio of 2.40 and a beta of 1.22. The firm has a 50-day simple moving average of $44.12 and a 200-day simple moving average of $40.10. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34. CSX Corporation has a 52 week low of $31.80 and a 52 week high of $47.25.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.50 billion. CSX had a net margin of 21.55% and a return on equity of 24.47%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 earnings per share. Equities analysts forecast that CSX Corporation will post 1.9 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, May 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. CSX’s payout ratio is presently 34.36%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CSX shares. New Street Research set a $49.00 price target on shares of CSX in a research report on Thursday, April 23rd. Bank of America boosted their price target on shares of CSX from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Wolfe Research restated an “outperform” rating and set a $50.00 price target on shares of CSX in a research report on Thursday, April 23rd. TD Cowen boosted their price target on shares of CSX from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group boosted their price target on shares of CSX from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $46.42.

Hedge Funds Weigh In On CSX

Institutional investors and hedge funds have recently bought and sold shares of the company. Rathbones Group PLC boosted its holdings in CSX by 20.6% in the 3rd quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company’s stock valued at $7,367,000 after purchasing an additional 35,403 shares during the last quarter. Canada Post Corp Registered Pension Plan raised its stake in shares of CSX by 34.2% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock valued at $3,498,000 after acquiring an additional 24,566 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of CSX by 81.9% in the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock valued at $33,555,000 after acquiring an additional 425,395 shares during the period. Reaves W H & Co. Inc. purchased a new stake in shares of CSX in the 3rd quarter valued at approximately $5,326,000. Finally, SOA Wealth Advisors LLC. raised its stake in shares of CSX by 26.0% in the 4th quarter. SOA Wealth Advisors LLC. now owns 111,914 shares of the transportation company’s stock valued at $4,057,000 after acquiring an additional 23,072 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.