Insider Selling: CSX (NASDAQ:CSX) Director Sells 19,500 Shares of Stock

Key Points

• CSX Director John Zillmer sold 19,500 shares at an average price of $51.24, generating approximately $999,180. He retained 334,214 shares, with the transaction reducing his ownership by 5.51%.
• CSX reported quarterly EPS of $0.57, beating estimates by $0.04, while revenue rose 12% year over year to $4.02 billion. The company also declared a quarterly dividend of $0.14 per share, representing a 1.1% yield.
• The stock traded near $51.99, and analysts maintained an overall “Moderate Buy” consensus with an average price target of $52.20; institutional investors own 73.57% of CSX shares.

CSX Corporation (NASDAQ:CSX - Get Free Report) Director John Zillmer sold 19,500 shares of the company's stock in a transaction on Monday, October 26th. The shares were sold at an average price of $51.24, for a total value of $999,180.00. Following the sale, the director directly owned 334,214 shares of the company's stock, valued at approximately $17,125,125.36. This represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

CSX Trading Down 0.5%

Shares of NASDAQ:CSX traded down $0.28 during mid-day trading on Wednesday, hitting $51.99. The stock had a trading volume of 9,281,868 shares, compared to its average volume of 12,414,198. CSX Corporation has a 12-month low of $33.63 and a 12-month high of $53.60. The company has a market cap of $95.84 billion, a PE ratio of 26.94, a P/E/G ratio of 2.27 and a beta of 1.21. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.75 and a current ratio of 0.84. The company's 50 day moving average is $48.77 and its 200-day moving average is $45.26.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, October 21st. The transportation company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.04. The company had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.96 billion. CSX had a return on equity of 25.94% and a net margin of 23.97%. The business's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 EPS. On average, sell-side analysts predict that CSX Corporation will post 2.04 EPS for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, November 30th. CSX's dividend payout ratio (DPR) is presently 29.02%.

Institutional Trading of CSX

A number of large investors have recently added to or reduced their stakes in the stock. Archer Investment Corp purchased a new position in CSX in the second quarter valued at about $26,000. N.E.W. Advisory Services LLC bought a new position in CSX during the second quarter valued at $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in CSX in the second quarter worth $29,000. Manning & Napier Advisors LLC bought a new stake in shares of CSX in the second quarter valued at $30,000. Finally, Arlington Trust Co LLC lifted its position in shares of CSX by 58.0% during the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company's stock valued at $32,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Evercore set a $53.00 price target on shares of CSX in a research report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $59.00 price objective on shares of CSX in a research report on Friday, July 24th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $54.00 price target (up from $53.00) on shares of CSX in a research report on Thursday, October 22nd. Benchmark reaffirmed a "buy" rating and set a $54.00 target price (up from $48.00) on shares of CSX in a research note on Wednesday, July 15th. Finally, Raymond James Financial set a $55.00 target price on CSX in a report on Friday, October 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CSX presently has an average rating of "Moderate Buy" and a consensus price target of $52.20.

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.

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