Kevin Boone Sells 136,708 Shares of CSX (NASDAQ:CSX) Stock

CSX Corporation (NASDAQ:CSX) CFO Kevin Boone sold 136,708 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the sale, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at $9,742,647.40. This represents a 39.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CSX Stock Up 1.6%

Shares of CSX stock opened at $46.99 on Friday. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $47.25. The firm has a fifty day moving average of $44.12 and a 200-day moving average of $40.10. The company has a market capitalization of $87.31 billion, a price-to-earnings ratio of 28.83, a P/E/G ratio of 2.44 and a beta of 1.22. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.50 billion. CSX had a net margin of 21.55% and a return on equity of 24.47%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. As a group, equities research analysts predict that CSX Corporation will post 1.9 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. CSX’s dividend payout ratio (DPR) is 34.36%.

Institutional Trading of CSX

Several hedge funds and other institutional investors have recently bought and sold shares of CSX. Cbre Investment Management Listed Real Assets LLC raised its stake in CSX by 81.9% in the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock worth $33,555,000 after purchasing an additional 425,395 shares in the last quarter. Pinebridge Investments LLC acquired a new stake in CSX in the 4th quarter worth about $5,979,000. Reaves W H & Co. Inc. acquired a new stake in CSX in the 3rd quarter worth about $5,326,000. Cohen & Steers Inc. raised its stake in CSX by 1.2% in the 4th quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock worth $300,226,000 after purchasing an additional 98,977 shares in the last quarter. Finally, Allstate Corp raised its stake in CSX by 105.7% in the 4th quarter. Allstate Corp now owns 136,869 shares of the transportation company’s stock worth $4,962,000 after purchasing an additional 70,326 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CSX. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $41.00 target price (up from $37.00) on shares of CSX in a research report on Thursday, April 23rd. Robert W. Baird raised their target price on shares of CSX from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Citigroup reaffirmed a “neutral” rating and issued a $46.00 target price (up from $44.00) on shares of CSX in a research report on Thursday, April 23rd. Susquehanna raised their target price on shares of CSX from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Royal Bank Of Canada increased their price target on shares of CSX from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Sixteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average target price of $46.42.

About CSX

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.