Procyon Advisors LLC Purchases 1,566 Shares of CSX Co. (NASDAQ:CSX)

Procyon Advisors LLC lifted its holdings in CSX Co. (NASDAQ:CSX) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,174 shares of the transportation company’s stock after buying an additional 1,566 shares during the quarter. Procyon Advisors LLC’s holdings in CSX were worth $3,459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Svenska Handelsbanken AB publ bought a new position in CSX during the 3rd quarter worth about $31,018,000. Webster Bank N. A. grew its stake in CSX by 356.7% during the 3rd quarter. Webster Bank N. A. now owns 6,850 shares of the transportation company’s stock valued at $237,000 after purchasing an additional 5,350 shares during the last quarter. Willner & Heller LLC boosted its position in CSX by 8.1% in the third quarter. Willner & Heller LLC now owns 8,339 shares of the transportation company’s stock valued at $288,000 after buying an additional 627 shares during the last quarter. Koshinski Asset Management Inc. raised its position in CSX by 2.3% during the 3rd quarter. Koshinski Asset Management Inc. now owns 15,000 shares of the transportation company’s stock worth $518,000 after buying an additional 331 shares during the last quarter. Finally, CHICAGO TRUST Co NA boosted its holdings in shares of CSX by 2.6% in the 3rd quarter. CHICAGO TRUST Co NA now owns 20,718 shares of the transportation company’s stock valued at $715,000 after acquiring an additional 532 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CSX shares. Barclays cut their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Evercore ISI upgraded CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Sanford C. Bernstein upped their target price on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $36.00 price target on shares of CSX in a research report on Tuesday, August 6th. Finally, Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.19.

CSX Price Performance

Shares of NASDAQ:CSX opened at $34.77 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average price of $33.93 and a 200 day moving average price of $34.01. The company has a market cap of $67.97 billion, a P/E ratio of 19.21, a PEG ratio of 1.90 and a beta of 1.19. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 earnings per share. Research analysts predict that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.38%. CSX’s payout ratio is 26.37%.

About CSX

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.