Stephen Angel Acquires 25,000 Shares of CSX (NASDAQ:CSX) Stock

CSX Corporation (NASDAQ:CSX) CEO Stephen Angel purchased 25,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were purchased at an average cost of $40.27 per share, for a total transaction of $1,006,750.00. Following the purchase, the chief executive officer directly owned 146,540 shares in the company, valued at approximately $5,901,165.80. This represents a 20.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

CSX Stock Performance

CSX opened at $39.95 on Friday. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $43.35. The stock has a market cap of $74.29 billion, a P/E ratio of 25.94, a P/E/G ratio of 2.04 and a beta of 1.27. The stock’s 50 day simple moving average is $38.79 and its 200 day simple moving average is $36.30. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.81 and a quick ratio of 0.69.

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

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a $0.14 dividend. The ex-dividend date is Friday, February 27th. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. This is a boost from CSX’s previous quarterly dividend of $0.13. CSX’s payout ratio is presently 36.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CSX shares. Citigroup dropped their target price on shares of CSX from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 23rd. JPMorgan Chase & Co. reduced their price target on shares of CSX from $43.00 to $41.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Morgan Stanley set a $30.00 price target on shares of CSX and gave the company an “equal weight” rating in a research report on Monday, December 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of CSX from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Wolfe Research reduced their target price on CSX from $43.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, January 8th. Nineteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $40.10.

Institutional Investors Weigh In On CSX

Several hedge funds have recently modified their holdings of CSX. Twin Peaks Wealth Advisors LLC acquired a new position in shares of CSX in the second quarter valued at approximately $25,000. FNY Investment Advisers LLC lifted its stake in shares of CSX by 437.3% during the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after buying an additional 586 shares during the period. WFA of San Diego LLC acquired a new stake in CSX during the second quarter worth approximately $28,000. Pinnacle Bancorp Inc. grew its stake in CSX by 121.5% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock worth $47,000 after acquiring an additional 729 shares during the period. Finally, CrossGen Wealth LLC purchased a new stake in CSX in the 4th quarter worth approximately $54,000. 73.57% of the stock is owned by institutional investors and hedge funds.

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.