Norfolk Southern Co. (NYSE:NSC) Holdings Raised by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. increased its holdings in Norfolk Southern Co. (NYSE:NSC) by 1.9% during the 4th quarter, HoldingsChannel reports. The fund owned 3,968,582 shares of the railroad operator’s stock after acquiring an additional 75,865 shares during the quarter. Norfolk Southern comprises approximately 7.4% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its largest holding. EdgePoint Investment Group Inc.’s holdings in Norfolk Southern were worth $931,426,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NSC. Eisler Capital Management Ltd. acquired a new stake in Norfolk Southern in the fourth quarter valued at $19,087,000. Ensign Peak Advisors Inc increased its position in shares of Norfolk Southern by 1.1% in the 4th quarter. Ensign Peak Advisors Inc now owns 39,143 shares of the railroad operator’s stock worth $9,187,000 after purchasing an additional 431 shares during the last quarter. First Manhattan CO. LLC. raised its stake in shares of Norfolk Southern by 42.7% in the 4th quarter. First Manhattan CO. LLC. now owns 4,488 shares of the railroad operator’s stock valued at $1,053,000 after purchasing an additional 1,344 shares in the last quarter. Fullcircle Wealth LLC bought a new position in shares of Norfolk Southern during the fourth quarter worth about $211,000. Finally, Deutsche Bank AG increased its holdings in Norfolk Southern by 17.1% in the fourth quarter. Deutsche Bank AG now owns 1,552,238 shares of the railroad operator’s stock valued at $364,310,000 after buying an additional 226,931 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Up 1.8 %

Shares of NYSE:NSC opened at $224.02 on Friday. Norfolk Southern Co. has a 1-year low of $201.63 and a 1-year high of $277.60. The company has a 50 day moving average price of $226.17 and a 200 day moving average price of $243.19. The stock has a market capitalization of $50.50 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 2.31 and a beta of 1.30. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.03). The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $2.49 earnings per share. On average, research analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is currently 36.89%.

Wall Street Analysts Forecast Growth

NSC has been the topic of several research reports. UBS Group dropped their price target on Norfolk Southern from $284.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Robert W. Baird lifted their price target on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. BMO Capital Markets restated a “market perform” rating and issued a $255.00 target price on shares of Norfolk Southern in a research report on Thursday, April 24th. Barclays decreased their price target on Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Finally, Benchmark restated a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and an average target price of $266.10.

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.