Procyon Advisors LLC Lowers Holdings in CSX Co. (NASDAQ:CSX)

Procyon Advisors LLC reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 19.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,666 shares of the transportation company’s stock after selling 19,508 shares during the period. Procyon Advisors LLC’s holdings in CSX were worth $2,603,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Interval Partners LP grew its stake in CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after buying an additional 4,579,344 shares during the period. Assenagon Asset Management S.A. grew its position in CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after acquiring an additional 2,489,329 shares in the last quarter. Bank of Montreal Can lifted its position in shares of CSX by 38.7% during the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after purchasing an additional 1,884,998 shares in the last quarter. FMR LLC lifted its holdings in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after buying an additional 1,447,651 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of CSX by 275.3% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,854,075 shares of the transportation company’s stock worth $62,019,000 after acquiring an additional 1,360,075 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Price Performance

CSX opened at $32.97 on Friday. The company has a fifty day moving average price of $33.94 and a two-hundred day moving average price of $33.97. The firm has a market capitalization of $63.57 billion, a PE ratio of 17.72, a P/E/G ratio of 1.93 and a beta of 1.22. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the company posted $0.42 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CSX. Royal Bank of Canada reduced their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. TD Cowen decreased their price target on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Stephens cut their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Stifel Nicolaus cut their price objective on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Finally, Loop Capital decreased their target price on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.71.

CSX Company 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.