CSX Corporation $CSX Stock: Markel Group Inc. Grows Position

Markel Group Inc. grew its position in CSX Corporation (NASDAQ:CSX) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 597,500 shares of the transportation company’s stock after acquiring an additional 13,000 shares during the quarter. Markel Group Inc.’s holdings in CSX were worth $27,790,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Archer Investment Corp purchased a new stake in shares of CSX during the second quarter worth approximately $26,000. N.E.W. Advisory Services LLC purchased a new stake in shares of CSX during the second quarter worth $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of CSX during the second quarter worth $29,000. Manning & Napier Advisors LLC purchased a new stake in shares of CSX during the second quarter worth $30,000. Finally, Arlington Trust Co LLC raised its position in shares of CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after buying an additional 250 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CSX

In related news, Director John Zillmer sold 19,500 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $51.24, for a total value of $999,180.00. Following the transaction, the director directly owned 334,214 shares in the company, valued at approximately $17,125,125.36. This represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Stephens began coverage on shares of CSX in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price target on the stock. Barclays reissued an “overweight” rating and issued a $60.00 target price (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Robert W. Baird boosted their target price on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Argus set a $56.00 price objective on CSX in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on CSX from $57.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.20.

CSX Price Performance

Shares of CSX stock opened at $50.72 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.84 and a quick ratio of 0.75. The firm’s 50-day moving average is $48.85 and its two-hundred day moving average is $45.67. CSX Corporation has a 12 month low of $33.63 and a 12 month high of $53.60. The company has a market capitalization of $93.50 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 2.27 and a beta of 1.12.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 21st. The transportation company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.04. CSX had a net margin of 23.97% and a return on equity of 25.94%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the business posted $0.44 EPS. CSX’s revenue was up 12.0% on a year-over-year basis. Analysts predict that CSX Corporation will post 2.04 earnings per share for the current year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, November 30th. CSX’s payout ratio is presently 29.02%.

About CSX

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.