Stock Traders Buy High Volume of Call Options on CSX (CSX)
CSX Co. (NASDAQ:CSX) was the target of unusually large options trading on Tuesday. Traders acquired 13,300 call options on the company. This is an increase of 387% compared to the average volume of 2,733 call options.
In other CSX news, Director Ridge Lp Mantle bought 1,357,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were acquired at an average cost of $51.59 per share, with a total value of $70,007,630.00. Following the acquisition, the director now owns 106 shares of the company’s stock, valued at $5,468.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.79% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Assetmark Inc. boosted its stake in CSX by 8.7% during the first quarter. Assetmark Inc. now owns 2,186 shares of the transportation company’s stock valued at $102,000 after buying an additional 175 shares during the period. Gradient Investments LLC boosted its stake in CSX by 38.1% during the second quarter. Gradient Investments LLC now owns 1,954 shares of the transportation company’s stock valued at $107,000 after buying an additional 539 shares during the period. Parallel Advisors LLC boosted its stake in CSX by 14.9% during the second quarter. Parallel Advisors LLC now owns 2,194 shares of the transportation company’s stock valued at $108,000 after buying an additional 285 shares during the period. Reilly Financial Advisors LLC boosted its stake in CSX by 33.1% during the second quarter. Reilly Financial Advisors LLC now owns 2,012 shares of the transportation company’s stock valued at $110,000 after buying an additional 500 shares during the period. Finally, LBA Wealth Management LLC boosted its stake in CSX by 323.1% during the first quarter. LBA Wealth Management LLC now owns 2,619 shares of the transportation company’s stock valued at $122,000 after buying an additional 2,000 shares during the period. 69.80% of the stock is owned by institutional investors.
A number of research analysts recently weighed in on the company. BidaskClub raised CSX from a “strong sell” rating to a “sell” rating in a report on Thursday, August 10th. Royal Bank Of Canada reissued a “buy” rating and set a $65.00 target price on shares of CSX in a report on Friday, August 11th. Stifel Nicolaus reissued a “hold” rating and set a $55.00 target price (down from $57.00) on shares of CSX in a report on Thursday. UBS AG reissued a “buy” rating and set a $62.00 target price on shares of CSX in a report on Monday, August 14th. Finally, Credit Suisse Group decreased their target price on CSX from $61.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty have issued a buy rating to the company. CSX presently has an average rating of “Buy” and a consensus target price of $53.40.
CSX (NASDAQ CSX) opened at 51.47 on Friday. The stock’s 50 day moving average price is $49.90 and its 200-day moving average price is $50.52. CSX has a 12-month low of $27.89 and a 12-month high of $55.48. The firm has a market cap of $47.01 billion, a PE ratio of 26.92 and a beta of 1.30.
CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.85 billion. CSX had a return on equity of 17.60% and a net margin of 17.39%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $0.47 earnings per share. Equities research analysts anticipate that CSX will post $2.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.55%. The ex-dividend date is Tuesday, August 29th. CSX’s dividend payout ratio is 41.88%.
CSX announced that its board has initiated a stock buyback plan on Tuesday, July 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the transportation company to buy up to 1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
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CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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