CSX (NASDAQ:CSX) CEO Acquires $1,006,750.00 in Stock

CSX Corporation (NASDAQ:CSX) CEO Stephen Angel acquired 25,000 shares of CSX stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of $40.27 per share, with a total value of $1,006,750.00. Following the completion of the acquisition, the chief executive officer directly owned 146,540 shares in the company, valued at $5,901,165.80. This represents a 20.57% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

CSX Price Performance

Shares of NASDAQ:CSX opened at $39.95 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.69 and a current ratio of 0.81. The firm has a market cap of $74.29 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26. The business has a 50-day simple moving average of $38.79 and a two-hundred day simple moving average of $36.30. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $43.35.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). CSX had a net margin of 20.50% and a return on equity of 23.88%. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the business earned $0.42 EPS. The business’s revenue was down .9% compared to the same quarter last year. On average, analysts expect that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a $0.14 dividend. This is an increase from CSX’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, February 27th. CSX’s dividend payout ratio is 36.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CSX shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of CSX from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. cut their price objective on CSX from $43.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Sanford C. Bernstein reiterated a “market perform” rating and set a $36.00 price objective (down from $37.00) on shares of CSX in a research report on Friday, January 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of CSX in a report on Thursday, December 18th. Finally, Jefferies Financial Group raised their target price on CSX from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.10.

Institutional Trading of CSX

A number of hedge funds and other institutional investors have recently modified their holdings of CSX. Twin Peaks Wealth Advisors LLC bought a new position in CSX in the 2nd quarter worth $25,000. FNY Investment Advisers LLC raised its holdings in CSX by 437.3% during the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 586 shares during the period. WFA of San Diego LLC bought a new stake in CSX during the second quarter valued at about $28,000. Pinnacle Bancorp Inc. lifted its position in shares of CSX by 121.5% in the third quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 729 shares in the last quarter. Finally, CrossGen Wealth LLC bought a new position in shares of CSX in the fourth quarter worth about $54,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

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.