Traders Sell CSX (CSX) on Strength (CSX)

Traders sold shares of CSX Co. (NASDAQ:CSX) on strength during trading on Wednesday. $35.89 million flowed into the stock on the tick-up and $65.00 million flowed out of the stock on the tick-down, for a money net flow of $29.11 million out of the stock. Of all stocks tracked, CSX had the 0th highest net out-flow for the day. CSX traded up $0.37 for the day and closed at $54.96

A number of research analysts have recently commented on CSX shares. BidaskClub lowered shares of CSX from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. UBS Group set a $68.00 target price on shares of CSX and gave the stock a “buy” rating in a research report on Friday, November 17th. Goldman Sachs Group began coverage on shares of CSX in a research report on Monday, November 13th. They issued a “sell” rating and a $45.00 target price for the company. TD Securities lowered shares of CSX from a “buy” rating to a “hold” rating and cut their target price for the stock from $63.00 to $54.00 in a research report on Monday, December 18th. Finally, Zacks Investment Research upgraded shares of CSX from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. CSX has a consensus rating of “Buy” and an average target price of $60.23.

The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80. The stock has a market cap of $48,762.50, a PE ratio of 9.13, a PEG ratio of 1.33 and a beta of 1.26.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. CSX had a net margin of 47.96% and a return on equity of 17.16%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The company’s revenue was down 5.7% on a year-over-year basis. equities research analysts predict that CSX Co. will post 3.1 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.60%. This is an increase from CSX’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, February 28th. CSX’s dividend payout ratio is 13.18%.

CSX declared that its Board of Directors has approved a stock repurchase plan on Monday, February 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Large investors have recently modified their holdings of the company. First Command Financial Services Inc. raised its stake in shares of CSX by 130.0% during the fourth quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock valued at $117,000 after acquiring an additional 1,200 shares during the last quarter. Prentiss Smith & Co. Inc. bought a new position in shares of CSX during the fourth quarter valued at about $119,000. Icon Wealth Partners LLC bought a new position in shares of CSX during the fourth quarter valued at about $126,000. Front Row Advisors LLC bought a new position in shares of CSX during the fourth quarter valued at about $135,000. Finally, Pinebridge Investments L.P. raised its stake in shares of CSX by 93.7% during the fourth quarter. Pinebridge Investments L.P. now owns 3,384 shares of the transportation company’s stock valued at $186,000 after acquiring an additional 1,637 shares during the last quarter. 69.50% of the stock is owned by hedge funds and other institutional investors.

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About CSX

CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.

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