Clarence W. Gooden Sells 16,129 Shares of CSX Corp. (CSX) Stock
CSX Corp. (NASDAQ:CSX) President Clarence W. Gooden sold 16,129 shares of the stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $31.00, for a total transaction of $499,999.00. Following the completion of the sale, the president now directly owns 127,954 shares in the company, valued at $3,966,574. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of CSX Corp. (NASDAQ:CSX) opened at 30.47 on Wednesday. CSX Corp. has a 52-week low of $21.33 and a 52-week high of $31.31. The firm has a market cap of $28.82 billion, a P/E ratio of 16.63 and a beta of 1.23. The stock’s 50 day moving average is $29.29 and its 200-day moving average is $27.38.
CSX Corp. (NASDAQ:CSX) last released its earnings results on Wednesday, July 13th. The company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.03. CSX Corp. had a return on equity of 15.24% and a net margin of 16.07%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the business posted $0.56 EPS. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. Equities analysts anticipate that CSX Corp. will post $1.75 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be paid a $0.18 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.72 annualized dividend and a dividend yield of 2.36%. CSX Corp.’s payout ratio is 39.13%.
A number of equities research analysts recently commented on CSX shares. Bank of America Corp. reissued a “buy” rating and issued a $32.00 price objective on shares of CSX Corp. in a research note on Monday, September 12th. BMO Capital Markets reissued an “outperform” rating and issued a $32.00 price objective (up from $29.00) on shares of CSX Corp. in a research note on Friday, July 15th. Deutsche Bank AG reissued a “hold” rating and issued a $29.00 price objective (up from $27.00) on shares of CSX Corp. in a research note on Friday, July 15th. Vertical Research started coverage on shares of CSX Corp. in a research note on Tuesday. They issued a “hold” rating on the stock. Finally, Royal Bank Of Canada increased their price objective on shares of CSX Corp. from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, July 15th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $29.54.
Large investors have recently made changes to their positions in the stock. Community Bank of Raymore boosted its stake in shares of CSX Corp. by 2.5% in the second quarter. Community Bank of Raymore now owns 741,373 shares of the company’s stock valued at $19,328,000 after buying an additional 18,400 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of CSX Corp. by 1.6% in the first quarter. Legal & General Group Plc now owns 4,290,750 shares of the company’s stock valued at $110,488,000 after buying an additional 66,790 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of CSX Corp. during the first quarter valued at approximately $454,000. Capital Analysts LLC boosted its stake in shares of CSX Corp. by 241.5% in the second quarter. Capital Analysts LLC now owns 7,567 shares of the company’s stock valued at $711,000 after buying an additional 5,351 shares during the last quarter. Finally, Simmons Bank purchased a new stake in shares of CSX Corp. during the first quarter valued at approximately $329,000. 68.55% of the stock is owned by institutional investors and hedge funds.
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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