Gabelli Funds LLC Boosts Stake in Norfolk Southern Corporation $NSC

Gabelli Funds LLC grew its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 54.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,112 shares of the railroad operator’s stock after buying an additional 18,012 shares during the quarter. Gabelli Funds LLC’s holdings in Norfolk Southern were worth $14,757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Pentwater Capital Management LP bought a new stake in shares of Norfolk Southern during the 3rd quarter valued at about $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Norfolk Southern by 545.2% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock valued at $392,396,000 after purchasing an additional 1,103,748 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Norfolk Southern during the 3rd quarter valued at about $329,629,000. TOMS Capital Investment Management LP bought a new stake in shares of Norfolk Southern during the 2nd quarter valued at about $181,995,000. Finally, M&T Bank Corp boosted its stake in shares of Norfolk Southern by 463.2% during the 4th quarter. M&T Bank Corp now owns 783,271 shares of the railroad operator’s stock valued at $226,146,000 after purchasing an additional 644,202 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Down 0.6%

Shares of NYSE NSC opened at $318.20 on Wednesday. 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 stock has a market cap of $71.46 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 5.91 and a beta of 1.30. Norfolk Southern Corporation has a 1 year low of $236.37 and a 1 year high of $323.37. The firm has a 50-day moving average of $299.86 and a 200 day moving average of $296.66.

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

Norfolk Southern Announces Dividend

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

Analysts Set New Price Targets

NSC has been the topic of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. BMO Capital Markets lifted their target price on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a research note on Monday, April 27th. UBS Group set a $327.00 target price on shares of Norfolk Southern in a research note on Thursday, May 7th. Robert W. Baird lifted their target price on shares of Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Six research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company’s stock. According to data from MarketBeat, Norfolk Southern presently has an average rating of “Hold” and a consensus 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.