Markel Group Inc. Raises Stock Position in Norfolk Southern Corporation $NSC

Markel Group Inc. grew its holdings in Norfolk Southern Corporation (NYSE:NSC) by 6.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 273,500 shares of the railroad operator’s stock after buying an additional 17,000 shares during the period. Markel Group Inc. owned approximately 0.12% of Norfolk Southern worth $78,965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in NSC. Pentwater Capital Management LP purchased a new position in shares of Norfolk Southern in the 3rd quarter worth $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 worth $392,396,000 after purchasing an additional 1,103,748 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Norfolk Southern during the 3rd quarter worth about $329,629,000. TOMS Capital Investment Management LP purchased a new position in shares of Norfolk Southern during the 2nd quarter worth 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 worth $226,146,000 after purchasing an additional 644,202 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 0.7%

NYSE:NSC opened at $313.72 on Friday. Norfolk Southern Corporation has a one year low of $236.37 and a one year high of $323.37. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The firm has a market cap of $70.46 billion, a P/E ratio of 26.43, a P/E/G ratio of 5.75 and a beta of 1.30. The firm has a 50-day simple moving average of $300.62 and a 200-day simple moving average of $297.19.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating the consensus estimate of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the business posted $2.69 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Norfolk Southern Corporation will post 12.11 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $1.35 dividend. The ex-dividend date was Friday, May 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. Norfolk Southern’s payout ratio is currently 45.49%.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of recent analyst reports. Evercore set a $325.00 price target on shares of Norfolk Southern in a research note on Friday, April 24th. Zacks Research raised shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Royal Bank Of Canada lifted their price target on shares of Norfolk Southern from $310.00 to $360.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. UBS Group set a $327.00 price target on shares of Norfolk Southern in a research note on Thursday, May 7th. Finally, BMO Capital Markets lifted their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Hold” and a consensus price target of $319.83.

Norfolk Southern Company 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.