Procyon Advisors LLC Has $3.35 Million Holdings in CSX Co. (NASDAQ:CSX)

Procyon Advisors LLC increased its stake in shares of CSX Co. (NASDAQ:CSX) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,492 shares of the transportation company’s stock after purchasing an additional 3,282 shares during the period. Procyon Advisors LLC’s holdings in CSX were worth $3,345,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Northstar Advisory Group LLC acquired a new position in CSX in the fourth quarter valued at about $251,000. IFG Advisory LLC grew its stake in CSX by 11.9% in the fourth quarter. IFG Advisory LLC now owns 15,368 shares of the transportation company’s stock valued at $533,000 after acquiring an additional 1,637 shares during the period. Highland Capital Management LLC grew its stake in CSX by 1.2% in the fourth quarter. Highland Capital Management LLC now owns 123,097 shares of the transportation company’s stock valued at $4,268,000 after acquiring an additional 1,506 shares during the period. Heartwood Wealth Advisors LLC acquired a new position in CSX in the fourth quarter valued at about $208,000. Finally, Bill Few Associates Inc. acquired a new position in CSX in the fourth quarter valued at about $221,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSX has been the subject of a number of research analyst reports. TD Cowen boosted their target price on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. reduced their price objective on CSX from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, December 21st. StockNews.com cut CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Susquehanna raised CSX from a “neutral” rating to a “positive” rating in a research report on Monday, January 8th. Finally, Raymond James upped their price objective on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average target price of $36.24.

CSX Stock Performance

Shares of NASDAQ CSX traded down $0.02 during trading hours on Thursday, reaching $36.82. 1,017,863 shares of the stock were exchanged, compared to its average volume of 11,535,067. The firm has a market capitalization of $72.08 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 2.09 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The stock’s fifty day simple moving average is $36.84 and its 200 day simple moving average is $33.76.

CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.63 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 earnings per share. Sell-side analysts predict that CSX Co. will post 1.96 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.30%. This is an increase from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is currently 26.09%.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.