CSX Sees Unusually Large Options Volume (NASDAQ:CSX)

CSX Corporation (NASDAQ:CSX) was the recipient of unusually large options trading activity on Wednesday. Investors bought 21,909 put options on the company. This represents an increase of approximately 232% compared to the typical volume of 6,596 put options.

Analyst Ratings Changes

Several research analysts have issued reports on CSX shares. Evercore dropped their price objective on CSX from $41.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, January 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $40.00 target price on shares of CSX in a report on Thursday, December 18th. Susquehanna reiterated a “neutral” rating and set a $39.00 target price on shares of CSX in a research report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of CSX from $40.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $36.00 price target (down from $37.00) on shares of CSX in a research report on Friday, January 23rd. Nineteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $40.44.

CSX Trading Down 1.7%

CSX opened at $39.64 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.69 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $73.71 billion, a PE ratio of 25.74, a PEG ratio of 2.06 and a beta of 1.27. CSX has a 1-year low of $26.22 and a 1-year high of $43.35. The firm has a 50-day moving average price of $39.41 and a two-hundred day moving average price of $36.65.

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

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.56 annualized dividend and a yield of 1.4%. This is a positive change from CSX’s previous quarterly dividend of $0.13. CSX’s dividend payout ratio (DPR) is currently 36.36%.

Insider Buying and Selling at CSX

In other news, EVP Stephen Fortune sold 31,456 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total value of $1,215,774.40. Following the completion of the transaction, the executive vice president directly owned 82,034 shares of the company’s stock, valued at approximately $3,170,614.10. This represents a 27.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Diana B. Sorfleet sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total value of $3,740,400.00. Following the transaction, the chief accounting officer owned 165,613 shares of the company’s stock, valued at $6,882,876.28. This trade represents a 35.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 188,123 shares of company stock valued at $7,454,854. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CSX

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Brighton Jones LLC increased its position in CSX by 5.5% in the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after purchasing an additional 849 shares during the period. Resolute Wealth Strategies LLC acquired a new position in CSX during the 2nd quarter valued at about $210,000. FourThought Financial Partners LLC boosted its stake in shares of CSX by 0.6% in the 2nd quarter. FourThought Financial Partners LLC now owns 101,818 shares of the transportation company’s stock valued at $3,322,000 after purchasing an additional 631 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of CSX in the 2nd quarter valued at about $25,000. Finally, SVB Wealth LLC acquired a new stake in shares of CSX during the 2nd quarter worth approximately $807,000. 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.