Norfolk Southern Corporation $NSC Shares Bought by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. raised its holdings in Norfolk Southern Corporation (NYSE:NSC) by 1,562.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,793 shares of the railroad operator’s stock after acquiring 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 quarter.

A number of other hedge funds also recently bought and sold shares of the business. Sound Income Strategies LLC raised its holdings in Norfolk Southern by 87.9% in the 4th quarter. Sound Income Strategies LLC now owns 1,024 shares of the railroad operator’s stock valued at $298,000 after acquiring an additional 479 shares during the last quarter. Capricorn Fund Managers Ltd acquired a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $7,218,000. Y.D. More Investments Ltd acquired a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $2,265,000. Savvy Advisors Inc. acquired a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $217,000. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of Norfolk Southern by 23.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 10,185 shares of the railroad operator’s stock worth $2,941,000 after buying an additional 1,960 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $288.16 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85. The stock has a market capitalization of $70.55 billion, a P/E ratio of 22.60, a PEG ratio of 5.25 and a beta of 1.31. The company has a 50 day moving average price of $299.90 and a 200 day moving average price of $293.15. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $319.94.

Norfolk Southern (NYSE:NSC) 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. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company posted $3.04 EPS. Equities research analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is presently 42.35%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NSC. Royal Bank Of Canada cut their price target on shares of Norfolk Southern from $320.00 to $310.00 and set a “sector perform” rating for the company in a report on Thursday, March 26th. Weiss Ratings upgraded shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. JPMorgan Chase & Co. cut their price target on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Robert W. Baird raised their price target on shares of Norfolk Southern from $288.00 to $315.00 and gave the stock a “neutral” rating in a report on Friday, March 6th. Finally, Barclays cut their price target on shares of Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Seven equities 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 currently has a consensus rating of “Hold” and an average target price 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.