Mystic Asset Management Inc. Acquires Shares of 24,533 CSX Corporation $CSX

Mystic Asset Management Inc. acquired a new position in shares of CSX Corporation (NASDAQ:CSX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 24,533 shares of the transportation company’s stock, valued at approximately $1,166,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of CSX in the 2nd quarter valued at about $27,000. WFA of San Diego LLC acquired a new position in CSX during the second quarter worth approximately $28,000. Arlington Trust Co LLC increased its position in CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after buying an additional 250 shares during the period. Wilkerson Advisory Group LLC lifted its stake in CSX by 97.4% in the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after buying an additional 409 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in CSX in the second quarter valued at approximately $34,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSX has been the subject of several recent research reports. Raymond James Financial reiterated an “outperform” rating and set a $56.00 target price on shares of CSX in a research note on Monday, July 13th. Citigroup boosted their target price on CSX from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Stephens began coverage on CSX in a research note on Wednesday, July 8th. They set an “overweight” rating and a $57.00 target price for the company. JPMorgan Chase & Co. raised their price target on CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, Susquehanna upgraded CSX from a “neutral” rating to a “positive” rating and lifted their price target for the company from $50.00 to $58.00 in a research note on Tuesday, July 14th. Eighteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average price target of $51.31.

CSX Stock Performance

CSX stock opened at $50.97 on Friday. CSX Corporation has a 52 week low of $31.80 and a 52 week high of $53.60. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The stock has a fifty day moving average price of $49.30 and a 200 day moving average price of $45.11. The firm has a market capitalization of $94.42 billion, a P/E ratio of 29.46, a PEG ratio of 2.31 and a beta of 1.21.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS. Equities research analysts anticipate that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s payout ratio is presently 32.37%.

Insider Activity at CSX

In other news, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares in the company, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the completion of the sale, the chief accounting officer directly owned 10,437 shares in the company, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 189,708 shares of company stock worth $9,132,304 in the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

About CSX

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.