CSX Corp. (NASDAQ:CSX) President Clarence W. Gooden sold 16,129 shares of the company’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $31.00, for a total transaction of $499,999.00. Following the transaction, the president now owns 127,954 shares of the company’s stock, valued at approximately $3,966,574. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of CSX Corp. (NASDAQ:CSX) opened at 30.21 on Thursday. The firm has a market capitalization of $28.58 billion, a PE ratio of 16.49 and a beta of 1.23. The firm’s 50-day moving average is $29.34 and its 200 day moving average is $27.40. CSX Corp. has a 52 week low of $21.33 and a 52 week high of $31.31.
CSX Corp. (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 12th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. CSX Corp. had a net margin of 16.07% and a return on equity of 15.24%. The firm’s revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, equities analysts forecast that CSX Corp. will post $1.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.72 annualized dividend and a yield of 2.38%. CSX Corp.’s dividend payout ratio is currently 39.13%.
Several equities analysts have commented on CSX shares. Cowen and Company increased their price objective on shares of CSX Corp. from $27.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, July 15th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of CSX Corp. in a research report on Sunday, July 17th. Stifel Nicolaus lowered shares of CSX Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. They noted that the move was a valuation call. JPMorgan Chase & Co. reiterated a “buy” rating on shares of CSX Corp. in a research report on Friday, July 15th. Finally, BB&T Corp. lowered shares of CSX Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $29.54.
A number of institutional investors have recently made changes to their positions in the stock. Washington Trust Bank increased its stake in CSX Corp. by 7.7% in the third quarter. Washington Trust Bank now owns 3,644 shares of the company’s stock valued at $111,000 after buying an additional 259 shares during the last quarter. Brick & Kyle Associates increased its stake in CSX Corp. by 8.1% in the second quarter. Brick & Kyle Associates now owns 4,000 shares of the company’s stock valued at $104,000 after buying an additional 300 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in CSX Corp. during the second quarter valued at $117,000. WFG Advisors LP increased its stake in CSX Corp. by 17.1% in the second quarter. WFG Advisors LP now owns 6,537 shares of the company’s stock valued at $170,000 after buying an additional 956 shares during the last quarter. Finally, Genesee Valley Trust Co. purchased a new stake in CSX Corp. during the third quarter valued at $221,000. Institutional investors own 68.55% of the company’s stock.
About CSX Corp.
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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