Procyon Advisors LLC Sells 19,508 Shares of CSX Co. (NASDAQ:CSX)

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

Other institutional investors also recently modified their holdings of the company. Tompkins Financial Corp acquired a new position in shares of CSX in the 4th quarter valued at $139,000. Empirical Asset Management LLC lifted its holdings in CSX by 2.3% during the fourth quarter. Empirical Asset Management LLC now owns 36,360 shares of the transportation company's stock worth $1,173,000 after acquiring an additional 825 shares in the last quarter. Carnegie Investment Counsel grew its stake in CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company's stock valued at $19,751,000 after acquiring an additional 8,474 shares during the period. Outlook Wealth Advisors LLC bought a new stake in shares of CSX in the fourth quarter worth about $396,000. Finally, ARS Wealth Advisors Group LLC raised its position in shares of CSX by 3.6% during the fourth quarter. ARS Wealth Advisors Group LLC now owns 19,944 shares of the transportation company's stock worth $644,000 after purchasing an additional 700 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Down 0.7 %

CSX traded down $0.24 during trading on Friday, reaching $32.73. 20,683,825 shares of the stock were exchanged, compared to its average volume of 9,942,721. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The stock's 50 day moving average price is $33.82 and its two-hundred day moving average price is $33.95. CSX Co. has a twelve month low of $31.43 and a twelve month high of $40.12. The stock has a market cap of $63.12 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on CSX shares. Stephens decreased their price objective on CSX from $41.00 to $39.00 and set an "overweight" rating for the company in a research report on Thursday, October 17th. Citigroup upped their price target on shares of CSX from $42.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Evercore ISI dropped their price objective on shares of CSX from $38.00 to $37.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. TD Cowen reduced their target price on shares of CSX from $36.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, October 17th. Finally, Susquehanna lowered their target price on CSX from $40.00 to $39.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.65.

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.