Gabelli Funds LLC Takes Position in Norfolk Southern Corporation $NSC

Key Points

• Gabelli Funds bought a new stake of 33,100 Norfolk Southern shares in Q3, valued at about $9.94 million.
• Norfolk Southern reported quarterly EPS of $3.22, beating estimates by $0.46 while revenue fell 1.7% year-over-year, and it recently paid a quarterly dividend of $1.35 (annualized $5.40, ~1.8% yield).
• The stock has a market cap of $68.05 billion, a PE of 23.77 and a 52‑week range of $201.63–$319.94; analysts’ consensus is a "Hold" with an average target of $308.95, and institutional investors own about 75.10% of the shares.

Gabelli Funds LLC purchased a new stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 33,100 shares of the railroad operator's stock, valued at approximately $9,944,000.

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

Norfolk Southern Stock Performance

Shares of NSC stock opened at $303.02 on Monday. The stock's 50-day moving average price is $300.10 and its 200 day moving average price is $291.64. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $68.05 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 5.47 and a beta of 1.31. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $319.94.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping analysts' consensus estimates of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.03 billion. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $3.04 EPS. As a group, equities research analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. Norfolk Southern's dividend payout ratio (DPR) is currently 42.35%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Rothschild & Co Redburn upped their price objective on shares of Norfolk Southern from $299.00 to $317.00 and gave the company a "neutral" rating in a research note on Wednesday, March 4th. Zacks Research upgraded Norfolk Southern from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. Morgan Stanley raised Norfolk Southern from an "equal weight" rating to a "buy" rating in a report on Thursday, December 18th. Jefferies Financial Group upped their target price on Norfolk Southern from $300.00 to $350.00 and gave the company a "hold" rating in a research report on Tuesday, March 3rd. Finally, Evercore lifted their price target on Norfolk Southern from $298.00 to $299.00 in a research report on Thursday, December 18th. Seven research analysts have rated the stock with a Buy rating and eighteen have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $308.95.

Norfolk Southern 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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