Procyon Advisors LLC Purchases 2,804 Shares of CSX Co. (NASDAQ:CSX)

Procyon Advisors LLC lifted its position in CSX Co. (NASDAQ:CSX) by 3.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 83,470 shares of the transportation company’s stock after buying an additional 2,804 shares during the period. Procyon Advisors LLC’s holdings in CSX were worth $2,457,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Marshall & Sterling Wealth Advisors Inc. bought a new stake in CSX during the 4th quarter valued at $27,000. Accredited Wealth Management LLC purchased a new stake in shares of CSX during the 4th quarter worth $29,000. Fourth Dimension Wealth LLC bought a new stake in CSX during the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new position in CSX in the fourth quarter valued at about $31,000. Finally, Sierra Ocean LLC bought a new position in CSX in the fourth quarter worth about $33,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CSX. Stifel Nicolaus lowered their price target on shares of CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Benchmark reissued a “buy” rating and set a $35.00 target price on shares of CSX in a research report on Thursday, April 17th. Evercore ISI cut their price target on shares of CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Royal Bank of Canada reduced their price target on CSX from $31.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 17th. Finally, Citigroup lowered their price objective on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.95.

CSX Trading Up 1.5%

Shares of NASDAQ:CSX opened at $32.23 on Friday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10. The stock has a market cap of $60.55 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 1.92 and a beta of 1.22. The business has a 50-day moving average price of $29.28 and a 200-day moving average price of $31.39.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. Equities analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.61%. CSX’s dividend payout ratio (DPR) is presently 31.14%.

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.