CSX Corporation (CSX) to Distribute Quarterly Dividend of $0.14 on December 15th

CSX Corporation (NASDAQ:CSX) declared a quarterly dividend on Thursday, October 8th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.14 per share by the transportation company on Tuesday, December 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, November 30th.

CSX has increased its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. CSX has a payout ratio of 29.2% meaning its dividend is sufficiently covered by earnings. Analysts expect CSX to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 25.1%.

CSX Price Performance

NASDAQ:CSX opened at $47.26 on Friday. The business’s 50-day moving average is $49.01 and its 200 day moving average is $47.00. CSX has a 12 month low of $33.63 and a 12 month high of $53.60. The company has a market capitalization of $87.55 billion, a P/E ratio of 27.32, a P/E/G ratio of 2.22 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. On average, equities research analysts forecast that CSX will post 2.00 earnings per share for the current fiscal year.

Insider Buying and Selling at CSX

In other news, SVP Michael Burns sold 13,000 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the transaction, the senior vice president owned 59,643 shares in the company, valued at approximately $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Angela Williams sold 30,000 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the transaction, the chief accounting officer owned 10,437 shares in the company, valued at approximately $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of CSX in the second quarter valued at $7,655,277,000. XXEC Inc. purchased a new position in shares of CSX in the 2nd quarter valued at about $765,595,000. Bank of America Corp DE purchased a new stake in shares of CSX in the second quarter valued at about $1,598,962,000. Bank of New York Mellon Corp acquired a new stake in shares of CSX in the second quarter valued at approximately $950,325,000. Finally, Legal & General Group Plc acquired a new position in shares of CSX during the 2nd quarter worth approximately $747,001,000. Institutional investors own 73.57% of the company’s stock.

CSX Company Profile

CSX Corporation (NASDAQ:CSX) is a transportation company that provides rail-based freight services through its principal subsidiary, CSX Transportation. The company moves a broad range of products, including agricultural and food products, chemicals, minerals, forest products, metals, automotive shipments, and consumer goods.

CSX also provides intermodal transportation, connecting rail shipments with trucks, ports, and distribution facilities. Its network serves the eastern United States and reaches parts of Canada, linking major industrial regions, population centers, manufacturing locations, and Atlantic and Gulf Coast ports.

CSX traces its history to the 1980 merger of Chessie System and Seaboard Coast Line Industries.