GABELLI & Co INVESTMENT ADVISERS INC. Grows Position in Norfolk Southern Corporation $NSC

GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in Norfolk Southern Corporation (NYSE:NSC) by 49.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,620 shares of the railroad operator’s stock after purchasing an additional 16,720 shares during the period. Norfolk Southern comprises approximately 2.2% of GABELLI & Co INVESTMENT ADVISERS INC.’s investment portfolio, making the stock its 15th largest holding. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Norfolk Southern were worth $14,615,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Gilbert & Cook Inc. boosted its position in Norfolk Southern by 1.4% in the 4th quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator’s stock worth $726,000 after purchasing an additional 35 shares in the last quarter. Moss Adams Wealth Advisors LLC boosted its position in Norfolk Southern by 4.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock worth $228,000 after purchasing an additional 35 shares in the last quarter. Confluence Wealth Services Inc. boosted its position in Norfolk Southern by 1.1% in the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock worth $892,000 after purchasing an additional 35 shares in the last quarter. Exencial Wealth Advisors LLC boosted its position in Norfolk Southern by 1.1% in the 4th quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock worth $929,000 after purchasing an additional 35 shares in the last quarter. Finally, Quotient Wealth Partners LLC boosted its position in Norfolk Southern by 4.5% in the 4th quarter. Quotient Wealth Partners LLC now owns 864 shares of the railroad operator’s stock worth $250,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.3%

Shares of NSC stock opened at $316.85 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The company has a market cap of $71.16 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 5.84 and a beta of 1.30. The stock has a 50 day simple moving average of $299.40 and a 200-day simple moving average of $296.12. Norfolk Southern Corporation has a 1-year low of $236.37 and a 1-year high of $323.37.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the business earned $2.69 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts expect that Norfolk Southern Corporation will post 12.11 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Friday, May 8th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, May 8th. Norfolk Southern’s payout ratio is presently 45.49%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. BMO Capital Markets upped their price objective on Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research report on Monday, April 27th. Argus raised Norfolk Southern to a “hold” rating in a research note on Wednesday, February 25th. Zacks Research raised Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Rothschild & Co Redburn upped their target price on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Finally, TD Cowen upped their target price on Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $319.83.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.