CSX announces a tentative five-year agreement with the Brotherhood of Railroad Signalmen, pending union ratification.
Quiver AI Summary
CSX Corporation has announced a new five-year tentative collective bargaining agreement with the Brotherhood of Railroad Signalmen (BRS), highlighting its ongoing partnership with union leadership. CSX President and CEO Joe Hinrichs stated that the agreement underscores a mutual commitment to safety, respect, and operational excellence. The agreement is pending ratification by the union's members, which includes 1,215 signalmen. So far, CSX has reached ratified agreements with 11 labor unions, covering 47 percent of its unionized workforce, offering improved wages, healthcare, and paid time off benefits. CSX aims to continue collaborating with other unions to enhance its employees' working conditions. Established in Jacksonville, Florida, CSX is a major transportation company serving various markets vital to the U.S. economy.
Potential Positives
- CSX has secured a new five-year tentative collective bargaining agreement with the Brotherhood of Railroad Signalmen, demonstrating a strong relationship with union leadership.
- The agreement includes improved wages, health care, and paid time off benefits, reflecting the company's commitment to employee welfare.
- With this agreement, CSX has ratified contracts with 11 labor unions, covering 47 percent of its unionized workforce, indicating effective labor relations and stability within the company.
- The partnership emphasized in the release highlights CSX's dedication to operational excellence and efficiency, which may enhance service delivery for customers.
Potential Negatives
- The tentative agreement is subject to ratification by the union’s membership, which introduces uncertainty regarding its acceptance and may affect labor relations during the ratification process.
- CSX only has ratified agreements with 47 percent of its unionized workforce, indicating potential dissatisfaction or ongoing negotiations with other labor groups, which could impact operations.
- The focus on collective bargaining may suggest existing labor tensions, highlighting ongoing challenges in maintaining workforce stability and satisfaction.
FAQ
What is the new agreement with the Brotherhood of Railroad Signalmen about?
CSX announced a five-year tentative collective bargaining agreement focusing on safety, respect, and operational efficiency.
How many signalmen are covered by this agreement?
The tentative agreement covers 1,215 signalmen at CSX.
How many unions has CSX ratified agreements with so far?
CSX has ratified agreements with 11 labor unions, covering 14 different work groups.
What benefits does the agreement offer to employees?
The agreement provides improved wages, health care, and paid time off benefits for employees.
Where is CSX Corporation based?
CSX Corporation is based in Jacksonville, Florida.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CSX Insider Trading Activity
$CSX insiders have traded $CSX stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $CSX stock by insiders over the last 6 months:
- NATHAN D GOLDMAN (EVP & CLO) has made 0 purchases and 2 sales selling 118,588 shares for an estimated $4,197,315.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CSX Hedge Fund Activity
We have seen 681 institutional investors add shares of $CSX stock to their portfolio, and 812 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JPMORGAN CHASE & CO added 16,687,596 shares (+18.4%) to their portfolio in Q4 2024, for an estimated $538,508,722
- AMERIPRISE FINANCIAL INC added 9,863,587 shares (+89.7%) to their portfolio in Q4 2024, for an estimated $318,297,952
- PRICE T ROWE ASSOCIATES INC /MD/ removed 7,961,244 shares (-13.7%) from their portfolio in Q4 2024, for an estimated $256,909,343
- BANK OF NEW YORK MELLON CORP added 6,730,316 shares (+40.5%) to their portfolio in Q4 2024, for an estimated $217,187,297
- CAPITAL WORLD INVESTORS removed 6,493,505 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $209,545,406
- MITSUBISHI UFJ TRUST & BANKING CORP added 5,568,624 shares (+471.9%) to their portfolio in Q4 2024, for an estimated $179,699,496
- FIDUCIARY MANAGEMENT INC /WI/ added 5,523,970 shares (+inf%) to their portfolio in Q4 2024, for an estimated $178,258,511
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$CSX Analyst Ratings
Wall Street analysts have issued reports on $CSX in the last several months. We have seen 5 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Citigroup issued a "Buy" rating on 01/24/2025
- Jefferies issued a "Buy" rating on 01/10/2025
- BMO Capital issued a "Outperform" rating on 10/17/2024
- Evercore ISI issued a "Outperform" rating on 10/17/2024
- Susquehanna issued a "Positive" rating on 10/02/2024
To track analyst ratings and price targets for $CSX, check out Quiver Quantitative's $CSX forecast page.
$CSX Price Targets
Multiple analysts have issued price targets for $CSX recently. We have seen 9 analysts offer price targets for $CSX in the last 6 months, with a median target of $37.0.
Here are some recent targets:
- An analyst from Deutsche Bank set a target price of $34.0 on 03/07/2025
- Rick Paterson from Loop Capital Markets set a target price of $34.0 on 02/03/2025
- Walter Spracklin from RBC Capital set a target price of $35.0 on 10/17/2024
- Christian Wetherbee from Wells Fargo set a target price of $34.0 on 10/17/2024
- Stephanie Moore from Jefferies set a target price of $37.0 on 10/17/2024
- Fadi Chamoun from BMO Capital set a target price of $39.0 on 10/17/2024
- Jonathan Chappell from Evercore ISI set a target price of $37.0 on 10/17/2024
Full Release
JACKSONVILLE, Fla., March 25, 2025 (GLOBE NEWSWIRE) -- CSX Corporation (NASDAQ: CSX) today announced it has secured new five-year tentative collective bargaining agreement with the Brotherhood of Railroad Signalmen (BRS).
“The agreement with the BRS continues to demonstrate our strong partnership with union leadership,” said Joe Hinrichs, President and CEO of CSX. “It reflects our shared commitment to safety, respect, and operational excellence as we move forward together as ONE CSX, ensuring greater efficiency and service for our customers.”
The tentative agreement is subject to ratification by the union’s membership at CSX, accounting for 1,215 signalmen.
To date, CSX has ratified agreements with 11 labor unions, covering 14 different work groups, accounting for 47 percent of its unionized workforce. The terms of the agreements are aligned, providing equivalent packages of improved wages, health care, and paid time off benefits.
CSX remains committed to working with other unions and crafts to reach similar agreements and continuing to partner with employees to make meaningful improvements in their work environment.
About CSX
CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural and consumer products. For nearly 200 years, CSX has played a critical role in the nation’s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook ( http://facebook.com/OfficialCSX ) and follow us on X, formerly known as Twitter ( http://twitter.com/CSX ).
Contact:
Matthew Korn, CFA, Investor Relations
904-366-4515
Bryan Tucker, Corporate Communications
855-955-6397
