Insider Selling: CSX (NASDAQ:CSX) EVP Sells 31,053 Shares of Stock

Key Points

• CSX EVP Kevin Boone sold 31,053 shares of stock at an average price of $36.09, totaling approximately $1.12 million, which resulted in a 13.59% reduction in his ownership.
• The company reported a quarterly EPS of $0.44, exceeding expectations, while revenue decreased by 0.9% year-over-year.
• CSX announced a quarterly dividend of $0.13 per share, with a dividend yield of 1.4% and a payout ratio of 33.99%.

CSX Corporation (NASDAQ:CSX - Get Free Report) EVP Kevin Boone sold 31,053 shares of the business's stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $36.09, for a total transaction of $1,120,702.77. Following the sale, the executive vice president owned 197,521 shares of the company's stock, valued at $7,128,532.89. This trade represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

CSX Stock Performance

NASDAQ CSX traded up $0.60 during trading hours on Friday, hitting $36.13. 11,235,196 shares of the company's stock traded hands, compared to its average volume of 16,745,973. The business's fifty day moving average price is $34.35 and its two-hundred day moving average price is $32.63. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $67.28 billion, a P/E ratio of 23.61, a P/E/G ratio of 2.80 and a beta of 1.29. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.25.

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

CSX Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CSX. Twin Peaks Wealth Advisors LLC bought a new position in shares of CSX in the 2nd quarter worth $25,000. Rossby Financial LCC acquired a new position in CSX during the 1st quarter valued at about $28,000. WFA of San Diego LLC purchased a new stake in CSX in the second quarter valued at about $28,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in CSX in the first quarter valued at about $30,000. Finally, Kessler Investment Group LLC purchased a new stake in CSX in the first quarter valued at about $32,000. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

CSX has been the topic of several recent research reports. Citigroup raised their price objective on CSX from $41.00 to $42.00 in a research note on Friday, October 17th. Baird R W raised CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Wall Street Zen raised shares of CSX from a "sell" rating to a "hold" rating in a report on Saturday, October 18th. Cowen reissued a "buy" rating on shares of CSX in a report on Friday, October 17th. Finally, Robert W. Baird set a $40.00 target price on shares of CSX and gave the stock an "outperform" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $39.09.

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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