CSX (NASDAQ:CSX) Sees Large Volume Increase - Here's What Happened

Key Points

• CSX Corporation experienced a significant **130% increase in trading volume**, with approximately 38.5 million shares traded on Monday, leading to a current stock price of $32.50, down from a previous close of $34.58.
• Analysts have given CSX mixed ratings, with recent upgrades reflecting a positive outlook; **Bank of America raised its price target to $42**, while CSX maintains an average rating of "Moderate Buy" with a target price of $37.
• The company announced a quarterly dividend of **$0.13 per share**, with a yield of **1.6%** and a dividend payout ratio of 32.10%, indicating a commitment to returning value to shareholders.

Shares of CSX Corporation (NASDAQ:CSX - Get Free Report) saw strong trading volume on Monday . 38,571,727 shares were traded during mid-day trading, an increase of 130% from the previous session's volume of 16,775,088 shares.The stock last traded at $32.50 and had previously closed at $34.58.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank Of Canada reissued a "sector perform" rating on shares of CSX in a report on Thursday, July 24th. Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and increased their price objective for the company from $34.00 to $42.00 in a report on Thursday, July 17th. Wall Street Zen lowered CSX from a "hold" rating to a "sell" rating in a research report on Friday. Benchmark upped their price target on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, TD Cowen raised shares of CSX from a "hold" rating to a "buy" rating and lifted their price target for the stock from $32.00 to $45.00 in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, CSX has an average rating of "Moderate Buy" and an average target price of $37.00.

CSX Trading Down 4.9%

The firm has a market cap of $61.30 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 2.58 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The business has a fifty day moving average of $34.33 and a two-hundred day moving average of $31.66.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%.The business had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter in the prior year, the firm posted $0.49 EPS. The company's revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts expect that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.6%. CSX's dividend payout ratio (DPR) is presently 32.10%.

Institutional Trading of CSX

Several large investors have recently bought and sold shares of CSX. Twin Peaks Wealth Advisors LLC acquired a new stake in CSX during the 2nd quarter valued at $25,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in CSX in the fourth quarter valued at $27,000. Rossby Financial LCC bought a new stake in shares of CSX in the 1st quarter worth about $28,000. WFA of San Diego LLC acquired a new position in CSX in the second quarter worth about $28,000. Finally, Accredited Wealth Management LLC bought a new stake in shares of CSX in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 73.57% of the company's stock.

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.

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