CSX (NASDAQ:CSX) Stock: Insider John Zillmer Sells 19,500 Shares

CSX Corporation (NASDAQ:CSX) Director John Zillmer sold 19,500 shares of the stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $51.24, for a total transaction of $999,180.00. Following the transaction, the director owned 334,214 shares of the company’s stock, valued at $17,125,125.36. This represents a 5.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

CSX Stock Performance

Shares of CSX traded down $0.28 during trading hours on Wednesday, hitting $51.99. The company’s stock had a trading volume of 9,281,868 shares, compared to its average volume of 12,414,198. The company has a market cap of $95.84 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.27 and a beta of 1.21. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.84 and a quick ratio of 0.75. The business has a 50 day simple moving average of $48.77 and a two-hundred day simple moving average of $45.26. CSX Corporation has a 52-week low of $33.63 and a 52-week high of $53.60.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 21st. The transportation company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.96 billion. CSX had a net margin of 23.97% and a return on equity of 25.94%. CSX’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 EPS. On average, equities analysts expect that CSX Corporation will post 2.04 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, November 30th. CSX’s dividend payout ratio (DPR) is presently 29.02%.

Institutional Trading of CSX

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of CSX during the 2nd quarter worth $7,655,277,000. Bank of America Corp DE bought a new position in CSX in the second quarter valued at $1,598,962,000. Bank of New York Mellon Corp purchased a new stake in CSX during the second quarter valued at about $950,325,000. XXEC Inc. purchased a new stake in CSX during the second quarter valued at about $765,595,000. Finally, Legal & General Group Plc bought a new stake in CSX during the second quarter worth about $747,001,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James Financial set a $55.00 price objective on CSX in a research note on Friday, October 23rd. Robert W. Baird raised their target price on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Weiss Ratings upgraded CSX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $54.00 target price (up from $53.00) on shares of CSX in a report on Thursday, October 22nd. Finally, Wells Fargo & Company raised 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. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.20.

CSX Company Profile

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.