EdgePoint Investment Group Inc. Has $4.61 Million Stock Position in Norfolk Southern Corporation $NSC

Key Points

• EdgePoint Investment Group reduced its stake in Norfolk Southern by 99.6%, selling 4,167,590 shares in Q3 and now holds 15,331 shares worth about $4.61 million.
• Norfolk Southern beat quarterly EPS estimates with $3.22 per share versus $2.76 expected, while revenue declined about 1.7% year-over-year to roughly $3.0 billion.
• The company pays a quarterly dividend of $1.35 (annualized $5.40, ~1.9% yield) and has a consensus analyst rating of Hold with an average target near $308.95.

EdgePoint Investment Group Inc. lowered its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 99.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,331 shares of the railroad operator's stock after selling 4,167,590 shares during the quarter. EdgePoint Investment Group Inc.'s holdings in Norfolk Southern were worth $4,606,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tritonpoint Wealth LLC lifted its stake in Norfolk Southern by 3.5% during the third quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator's stock valued at $313,000 after buying an additional 35 shares in the last quarter. Massachusetts Wealth Management increased its position in shares of Norfolk Southern by 0.6% in the third quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator's stock worth $1,798,000 after acquiring an additional 35 shares in the last quarter. ORG Partners LLC increased its position in shares of Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator's stock worth $25,000 after acquiring an additional 36 shares in the last quarter. Inspirion Wealth Advisors LLC raised its holdings in shares of Norfolk Southern by 1.9% during the third quarter. Inspirion Wealth Advisors LLC now owns 2,008 shares of the railroad operator's stock valued at $603,000 after acquiring an additional 37 shares during the period. Finally, U.S. Capital Wealth Advisors LLC lifted its position in shares of Norfolk Southern by 1.8% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 2,042 shares of the railroad operator's stock valued at $613,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Down 0.7%

Norfolk Southern stock opened at $289.25 on Friday. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $319.94. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85. The firm has a market cap of $64.96 billion, a PE ratio of 22.69, a P/E/G ratio of 5.22 and a beta of 1.31. The firm's 50 day moving average price is $300.74 and its two-hundred day moving average price is $292.10.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same quarter last year, the business posted $3.04 EPS. The company's revenue for the quarter was down 1.7% on a year-over-year basis. On average, research analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were paid a $1.35 dividend. The ex-dividend date was Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. Norfolk Southern's payout ratio is 42.35%.

Analysts Set New Price Targets

NSC has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price objective on shares of Norfolk Southern from $300.00 to $350.00 and gave the stock a "hold" rating in a research note on Tuesday, March 3rd. Zacks Research upgraded Norfolk Southern from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft cut Norfolk Southern from a "buy" rating to a "hold" rating and decreased their target price for the stock from $354.00 to $297.00 in a research report on Thursday, December 11th. Susquehanna lifted their price target on Norfolk Southern from $304.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, January 30th. Finally, Citigroup dropped their price target on Norfolk Southern from $317.00 to $300.00 and set a "neutral" rating on the stock in a research report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. According to MarketBeat.com, Norfolk Southern presently has a consensus rating of "Hold" and an average target price of $308.95.

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.

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