Insider Selling: CSX (NASDAQ:CSX) CAO Sells 90,000 Shares of Stock

by · The Markets Daily

CSX Corporation (NASDAQ:CSX – Get Free Report) CAO Diana Sorfleet sold 90,000 shares of CSX stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $41.56, for a total value of $3,740,400.00. Following the sale, the chief accounting officer directly owned 165,613 shares of the company’s stock, valued at approximately $6,882,876.28. The trade was a 35.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

CSX Stock Up 1.5%

CSX stock traded up $0.63 during mid-day trading on Friday, hitting $42.31. The stock had a trading volume of 14,159,890 shares, compared to its average volume of 14,721,814. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $42.35. The company has a fifty day moving average of $37.59 and a 200 day moving average of $35.81. 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 $78.68 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 2.11 and a beta of 1.30.

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

Hedge Funds Weigh In On CSX

Several large investors have recently bought and sold shares of the stock. Cbre Investment Management Listed Real Assets LLC raised its position in CSX by 81.9% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock worth $33,555,000 after purchasing an additional 425,395 shares in the last quarter. Pinebridge Investments LLC bought a new stake in shares of CSX in the 4th quarter valued at approximately $5,979,000. Reaves W H & Co. Inc. acquired a new position in shares of CSX in the 3rd quarter worth approximately $5,326,000. Cohen & Steers Inc. lifted its position in shares of CSX by 1.2% during the 4th quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock worth $300,226,000 after buying an additional 98,977 shares during the period. Finally, Allstate Corp grew its position in CSX by 105.7% in the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company’s stock valued at $4,962,000 after acquiring an additional 70,326 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CSX shares. Morgan Stanley set a $30.00 price objective on CSX and gave the company an “equal weight” rating in a report on Monday, December 8th. Wolfe Research decreased their target price on CSX from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, January 8th. Susquehanna reissued a “neutral” rating and issued a $39.00 price target on shares of CSX in a research report on Friday, January 23rd. Sanford C. Bernstein restated a “market perform” rating and issued a $36.00 price objective (down from $37.00) on shares of CSX in a research note on Friday, January 23rd. Finally, Argus upped their price objective on shares of CSX from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Nineteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, CSX has an average rating of “Moderate Buy” and an average price target of $39.77.

Check Out Our Latest Report on CSX

CSX Company Profile

(Get Free Report)

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.

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