Insider Selling: CSX (NASDAQ:CSX) CAO Sells $1,598,700.00 in Stock

Key Points

• CSX Chief Accounting Officer Angela Williams sold 30,000 shares at an average price of $53.29, generating $1.60 million. The sale reduced her holdings by 74.19%, leaving her with 10,437 shares.
• CSX’s latest quarterly results exceeded expectations, with earnings of $0.54 per share versus the $0.52 consensus and revenue of $3.94 billion, up 10.1% year over year.
• The company declared a quarterly dividend of $0.14 per share, equivalent to a $0.56 annualized payout and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $51.17.

CSX Corporation (NASDAQ:CSX - Get Free Report) CAO Angela Williams sold 30,000 shares of CSX stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the completion of the sale, the chief accounting officer owned 10,437 shares of the company's stock, valued at $556,187.73. This trade represents a 74.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

CSX Trading Down 0.0%

Shares of CSX stock traded down $0.02 on Tuesday, hitting $51.78. The stock had a trading volume of 4,372,114 shares, compared to its average volume of 13,241,521. The company's 50 day moving average price is $47.81 and its 200-day moving average price is $43.32. CSX Corporation has a 1 year low of $31.80 and a 1 year high of $53.60. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. The firm has a market capitalization of $95.92 billion, a P/E ratio of 29.92, a P/E/G ratio of 2.48 and a beta of 1.21.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. The company had revenue of $3.94 billion during the quarter, compared to analysts' expectations of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.CSX's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. Analysts anticipate that CSX Corporation will post 1.96 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX's dividend payout ratio is presently 32.37%.

Institutional Trading of CSX

Institutional investors have recently modified their holdings of the stock. WFA of San Diego LLC purchased a new position in shares of CSX in the 2nd quarter valued at $28,000. Arlington Trust Co LLC boosted its stake in CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company's stock valued at $32,000 after acquiring an additional 250 shares in the last quarter. Wilkerson Advisory Group LLC grew its holdings in shares of CSX by 97.4% during the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company's stock worth $34,000 after purchasing an additional 409 shares during the last quarter. Allied Private Wealth LLC purchased a new position in shares of CSX during the second quarter worth about $37,000. Finally, CrossGen Wealth LLC acquired a new stake in shares of CSX during the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 73.57% of the company's stock.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of recent research reports. Truist Financial set a $46.00 price objective on CSX in a research report on Friday, July 10th. Stifel Nicolaus set a $54.00 target price on CSX in a report on Thursday. Weiss Ratings cut CSX from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 14th. Robert W. Baird increased their price target on CSX from $49.00 to $53.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. Finally, Jefferies Financial Group lifted their price objective on CSX from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Seventeen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell 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 $51.17.

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.

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