Newbridge Financial Services Group Inc. Boosts Stake in Norfolk Southern Corporation $NSC

Newbridge Financial Services Group Inc. increased its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 1,562.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,793 shares of the railroad operator’s stock after purchasing an additional 2,625 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Norfolk Southern were worth $806,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NSC. Park Place Capital Corp lifted its position in shares of Norfolk Southern by 13,000.0% during the 3rd quarter. Park Place Capital Corp now owns 3,668 shares of the railroad operator’s stock worth $1,102,000 after purchasing an additional 3,640 shares during the last quarter. Cullen Capital Management LLC lifted its position in shares of Norfolk Southern by 31.8% during the 3rd quarter. Cullen Capital Management LLC now owns 121,351 shares of the railroad operator’s stock worth $36,455,000 after purchasing an additional 29,264 shares during the last quarter. Markel Group Inc. lifted its position in shares of Norfolk Southern by 8.5% during the 3rd quarter. Markel Group Inc. now owns 256,500 shares of the railroad operator’s stock worth $77,055,000 after purchasing an additional 20,000 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Norfolk Southern during the 3rd quarter worth $24,033,000. Finally, AlphaQuest LLC purchased a new stake in shares of Norfolk Southern during the 3rd quarter worth $2,165,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $288.16 on Tuesday. The company’s fifty day moving average price is $299.90 and its 200 day moving average price is $293.15. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $319.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The firm has a market capitalization of $70.55 billion, a P/E ratio of 22.60, a P/E/G ratio of 5.25 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, topping the consensus estimate of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period last year, the business earned $3.04 EPS. Norfolk Southern’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, sell-side analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal 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 paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, February 6th. Norfolk Southern’s dividend payout ratio (DPR) is currently 42.35%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NSC shares. Morgan Stanley raised shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a research report on Thursday, December 18th. Robert W. Baird lifted their price objective on shares of Norfolk Southern from $288.00 to $315.00 and gave the stock a “neutral” rating in a research report on Friday, March 6th. Wall Street Zen raised shares of Norfolk Southern to a “sell” rating in a research report on Saturday. Argus raised shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, February 25th. Finally, Susquehanna lifted their price objective on shares of Norfolk Southern from $304.00 to $305.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Seven analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $307.89.

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.