GABELLI & Co INVESTMENT ADVISERS INC. Raises Holdings in Norfolk Southern Corporation $NSC

Key Points

• GABELLI & Co. Investment Advisers increased its Norfolk Southern stake by 49.3% in the fourth quarter, buying 16,720 more shares and bringing its total to 50,620 shares worth about $14.6 million.
• Norfolk Southern reported better-than-expected quarterly earnings of $2.65 per share, topping estimates, though revenue of $3.0 billion came in below expectations.
• The company declared a quarterly dividend of $1.35 per share, while Wall Street currently holds a consensus “Hold” rating with an average price target of $319.83.

GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 49.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 50,620 shares of the railroad operator's stock after acquiring an additional 16,720 shares during the period. Norfolk Southern makes up 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 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. JPL Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the third quarter worth about $25,000. Westside Investment Management Inc. grew its stake in shares of Norfolk Southern by 207.1% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator's stock worth $26,000 after acquiring an additional 58 shares during the last quarter. GoalVest Advisory LLC grew its stake in shares of Norfolk Southern by 933.3% during the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator's stock worth $27,000 after acquiring an additional 84 shares during the last quarter. MMA Asset Management LLC purchased a new stake in shares of Norfolk Southern during the third quarter worth about $28,000. Finally, FNY Investment Advisers LLC grew its stake in shares of Norfolk Southern by 669.2% during the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator's stock worth $30,000 after acquiring an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Up 0.3%

Norfolk Southern stock opened at $316.85 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. Norfolk Southern Corporation has a 52 week low of $236.37 and a 52 week high of $323.37. The company has a market capitalization of $71.16 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 5.84 and a beta of 1.30. The stock has a 50-day moving average price of $299.40 and a 200 day moving average price of $296.12.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $3.13 billion. During the same quarter in the previous year, the company posted $2.69 earnings per share. The company's revenue was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Norfolk Southern Corporation will post 12.11 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, May 8th. Norfolk Southern's dividend payout ratio is currently 45.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NSC shares. TD Cowen boosted their price target on Norfolk Southern from $313.00 to $337.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Weiss Ratings lowered Norfolk Southern from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, April 27th. Argus raised Norfolk Southern to a "hold" rating in a report on Wednesday, February 25th. Susquehanna lifted their target price on Norfolk Southern from $305.00 to $330.00 and gave the stock a "neutral" rating in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group decreased their target price on Norfolk Southern from $350.00 to $310.00 and set a "hold" rating for the company in a report on Monday, April 6th. Six research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $319.83.

Norfolk Southern Company Profile

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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