CSX (NASDAQ:CSX) SVP Sells $891,393.24 in Stock

Key Points

• CSX SVP Michael Burns sold 24,249 shares of CSX stock for a total of $891,393.24, decreasing his ownership by 31.95%.
• CSX reported earnings of $0.44 EPS for the last quarter, beating estimates but experiencing a 0.9% decline in year-over-year revenue.
• The company declared a quarterly dividend of $0.13, payable on December 15th, with an annualized yield of 1.4%.

CSX Corporation (NASDAQ:CSX - Get Free Report) SVP Michael Burns sold 24,249 shares of the business's stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $36.76, for a total value of $891,393.24. Following the completion of the transaction, the senior vice president directly owned 51,640 shares of the company's stock, valued at $1,898,286.40. The trade was a 31.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

CSX Price Performance

Shares of CSX traded up $0.19 during trading hours on Wednesday, hitting $35.92. 12,072,347 shares of the stock were exchanged, compared to its average volume of 16,785,287. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.71 and a current ratio of 0.85. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.25. The company has a market cap of $66.89 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 2.86 and a beta of 1.29. The stock's 50-day moving average price is $34.37 and its two-hundred day moving average price is $32.55.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results on Thursday, October 16th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $3.59 billion during the quarter, compared to analysts' expectations of $3.60 billion. CSX had a return on equity of 24.95% and a net margin of 20.55%.The firm's quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS. Research analysts expect that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, November 28th. CSX's dividend payout ratio is presently 33.99%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded CSX from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a report on Thursday, July 24th. Bank of America dropped their target price on CSX from $42.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, September 24th. Citigroup lifted their target price on CSX from $41.00 to $42.00 in a research report on Friday, October 17th. Baird R W upgraded CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, Cowen reiterated a "buy" rating on shares of CSX in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.09.

Institutional Investors Weigh In On CSX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in CSX during the 1st quarter worth $182,550,000. Bank of New York Mellon Corp increased its stake in CSX by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock valued at $835,336,000 after purchasing an additional 5,033,743 shares during the period. Allspring Global Investments Holdings LLC increased its stake in CSX by 1,283.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company's stock valued at $123,786,000 after purchasing an additional 3,887,644 shares during the period. Amundi increased its holdings in shares of CSX by 34.5% in the first quarter. Amundi now owns 13,017,397 shares of the transportation company's stock valued at $364,357,000 after purchasing an additional 3,341,136 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of CSX by 12.5% in the first quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock valued at $690,359,000 after purchasing an additional 2,599,518 shares during the period. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Company Profile

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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