EdgePoint Investment Group Inc. Has $947.01 Million Stock Position in Norfolk Southern Corporation $NSC

Key Points

• EdgePoint Investment Group Inc. has made Norfolk Southern Corporation ($NSC) its largest position, owning nearly 3.99 million shares, which accounts for about 7.7% of its total holdings.
• Norfolk Southern reported $3.29 earnings per share (EPS) for the recent quarter, exceeding analyst expectations, with a net margin of 27.51% and a return on equity of 19.35%.
• The company's dividend yield is currently 1.9%, with a quarterly dividend of $1.35 recently paid to shareholders, highlighting its commitment to returning value to investors.

EdgePoint Investment Group Inc. increased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,998,335 shares of the railroad operator's stock after buying an additional 29,753 shares during the period. Norfolk Southern comprises approximately 7.7% of EdgePoint Investment Group Inc.'s portfolio, making the stock its largest position. EdgePoint Investment Group Inc. owned 1.77% of Norfolk Southern worth $947,006,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after acquiring an additional 79 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Norfolk Southern by 12.8% in the fourth quarter. Ameriprise Financial Inc. now owns 458,872 shares of the railroad operator's stock worth $107,696,000 after acquiring an additional 52,040 shares during the period. Benjamin Edwards Inc. lifted its stake in shares of Norfolk Southern by 5.5% in the fourth quarter. Benjamin Edwards Inc. now owns 5,716 shares of the railroad operator's stock worth $1,342,000 after acquiring an additional 300 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Norfolk Southern in the fourth quarter worth approximately $352,000. Finally, Centiva Capital LP acquired a new position in shares of Norfolk Southern in the fourth quarter worth approximately $747,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on NSC. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $288.00 price objective (up from $282.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Evercore ISI reaffirmed an "in-line" rating and issued a $289.00 price objective (up from $279.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $300.00 price objective on shares of Norfolk Southern in a research note on Friday, July 25th. Robert W. Baird lifted their price objective on Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, TD Cowen raised Norfolk Southern from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $263.00 to $323.00 in a research note on Monday, July 21st. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of "Hold" and a consensus target price of $285.15.

Norfolk Southern Trading Down 0.8%

Shares of NYSE:NSC traded down $2.23 during mid-day trading on Friday, hitting $277.53. The company had a trading volume of 1,302,006 shares, compared to its average volume of 1,896,946. The firm has a fifty day moving average price of $274.85 and a 200 day moving average price of $249.36. The company has a market capitalization of $62.34 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 2.46 and a beta of 1.29. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $291.69.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.05. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. Norfolk Southern has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were issued a dividend of $1.35 per share. The ex-dividend date was Friday, August 1st. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern's payout ratio is currently 36.49%.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.