Stephen Fortune Sells 31,456 Shares of CSX (NASDAQ:CSX) Stock

CSX Corporation (NASDAQ:CSX) EVP Stephen Fortune sold 31,456 shares of CSX stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $38.65, for a total value of $1,215,774.40. Following the completion of the sale, the executive vice president owned 82,034 shares of the company’s stock, valued at $3,170,614.10. The trade was a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

CSX Stock Up 0.1%

Shares of CSX stock opened at $39.87 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.81 and a quick ratio of 0.71. The stock has a market cap of $74.24 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 2.03 and a beta of 1.30. The firm’s 50-day moving average is $36.61 and its two-hundred day moving average is $35.41. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $40.22.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CSX shares. Jefferies Financial Group set a $42.00 price target on CSX and gave the company a “buy” rating in a report on Friday, October 17th. UBS Group set a $45.00 target price on CSX and gave the company a “buy” rating in a research note on Friday, October 17th. The Goldman Sachs Group boosted their target price on shares of CSX from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. TD Cowen reissued a “buy” rating on shares of CSX in a research report on Monday, January 12th. Finally, Evercore ISI cut their price objective on shares of CSX from $41.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, January 23rd. Nineteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $39.77.

Institutional Investors Weigh In On CSX

A number of large investors have recently modified their holdings of the business. Cbre Investment Management Listed Real Assets LLC raised its position in shares of 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 valued at $33,555,000 after purchasing an additional 425,395 shares during the last quarter. Reaves W H & Co. Inc. acquired a new position in CSX during the 3rd quarter valued at approximately $5,326,000. Allstate Corp acquired a new position in CSX during the 3rd quarter valued at approximately $2,363,000. Strengthening Families & Communities LLC purchased a new position in shares of CSX in the third quarter worth $2,199,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of 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. Hedge funds and other institutional investors own 73.57% of the company’s stock.

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.