CSX (NASDAQ:CSX) SVP Michael Burns Sells 13,000 Shares

CSX Corporation (NASDAQ:CSX) SVP Michael Burns sold 13,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the sale, the senior vice president directly owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

CSX Stock Down 1.9%

Shares of NASDAQ:CSX opened at $50.84 on Wednesday. The firm has a market capitalization of $94.18 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 2.39 and a beta of 1.21. The business has a 50 day simple moving average of $47.91 and a two-hundred day simple moving average of $43.43. CSX Corporation has a 1 year low of $31.80 and a 1 year high of $53.60. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts predict that CSX Corporation will post 1.98 EPS for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio is 32.37%.

CSX News Summary

Here are the key news stories impacting CSX this week:

• Positive Sentiment: Investors purchased 32,791 CSX call options, about 95% above the stock’s typical daily call volume. The activity may indicate increased bullish positioning, although options flows do not necessarily predict future performance.
• Neutral Sentiment: Conrail CEO Gorton is retiring. Because Conrail is co-owned by CSX and Norfolk Southern, the leadership change could create some uncertainty, but the immediate financial effect on CSX is unclear. Conrail CEO Gorton retiring
• Neutral Sentiment: A CSX railroad crossing on State Road 60 in Florida is scheduled to remain closed for two weeks for maintenance or related work. The disruption appears localized and is unlikely to materially affect companywide results. CSX railroad crossing closure
• Negative Sentiment: Two people suffered critical injuries while cranes were being scrapped at a CSX intermodal facility in Jacksonville. The incident could bring operational, regulatory, liability, or reputational concerns, although its financial impact is not yet known. Jacksonville intermodal facility accident
• Negative Sentiment: Chief Accounting Officer Angela C. Williams sold 30,000 shares worth approximately $1.60 million, reducing her direct ownership by 74.19%. Senior Vice President Michael S. Burns also sold 13,000 shares valued at about $684,840, cutting his holdings by 17.90%. Multiple insider sales can weigh on sentiment, though such transactions may reflect personal financial planning rather than a view on CSX’s outlook. CSX insider stock sale

Analyst Ratings Changes

CSX has been the subject of a number of recent analyst reports. Evercore set a $51.00 target price on shares of CSX in a research note on Thursday, July 23rd. Jefferies Financial Group raised their price target on shares of CSX from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Rothschild & Co Redburn lifted their price objective on shares of CSX from $45.50 to $47.50 and gave the company a “buy” rating in a report on Tuesday, April 28th. Wells Fargo & Company boosted their price objective on shares of CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Finally, Vertical Research cut shares of CSX from a “buy” rating to a “hold” rating and set a $44.00 price objective for the company. in a research report on Thursday, April 23rd. Seventeen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $51.17.

Institutional Investors Weigh In On CSX

Several hedge funds have recently modified their holdings of CSX. Canada Post Corp Registered Pension Plan boosted its stake in shares of CSX by 34.2% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock valued at $3,498,000 after purchasing an additional 24,566 shares in the last quarter. SOA Wealth Advisors LLC. raised its stake in CSX by 26.0% in the fourth quarter. SOA Wealth Advisors LLC. now owns 111,914 shares of the transportation company’s stock worth $4,057,000 after buying an additional 23,072 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in CSX by 159.5% during the fourth quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company’s stock worth $2,661,000 after buying an additional 45,116 shares during the period. KTF Investments LLC purchased a new stake in CSX during the fourth quarter worth $1,325,000. Finally, BNB Wealth Management LLC purchased a new stake in CSX during the fourth quarter worth $1,125,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

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.