135,885 Shares in Norfolk Southern Corporation $NSC Purchased by Boussard & Gavaudan Gestion Sas

Boussard & Gavaudan Gestion Sas purchased a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 135,885 shares of the railroad operator's stock, valued at approximately $42,850,000. Norfolk Southern accounts for 2.1% of Boussard & Gavaudan Gestion Sas' holdings, making the stock its 10th biggest position. Boussard & Gavaudan Gestion Sas owned approximately 0.06% of Norfolk Southern at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPL Wealth Management LLC bought a new position in Norfolk Southern during the 3rd quarter worth about $25,000. BNP Paribas purchased a new position in Norfolk Southern during the 2nd quarter valued at about $26,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Norfolk Southern in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. lifted its position in shares of Norfolk Southern by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator's stock worth $27,000 after purchasing an additional 67 shares during the period. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Norfolk Southern during the second quarter valued at approximately $31,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Up 0.2%

Shares of NSC stock opened at $348.67 on Friday. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60. The stock's fifty day moving average price is $332.87 and its 200 day moving average price is $315.01. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The company has a market cap of $78.31 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 5.22 and a beta of 1.27.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts' consensus estimates of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.38 billion. During the same period last year, the business posted $3.29 earnings per share. The firm's revenue was up 12.5% compared to the same quarter last year. On average, research analysts expect that Norfolk Southern Corporation will post 12.74 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were paid a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.5%. Norfolk Southern's dividend payout ratio (DPR) is 46.08%.

Analyst Ratings Changes

NSC has been the subject of a number of recent research reports. UBS Group reissued a "neutral" rating and issued a $363.00 price objective on shares of Norfolk Southern in a research note on Friday, July 24th. Wall Street Zen upgraded Norfolk Southern from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Royal Bank Of Canada boosted their price target on Norfolk Southern from $320.00 to $360.00 and gave the stock a "sector perform" rating in a research report on Friday, July 24th. TD Cowen upped their price objective on Norfolk Southern from $337.00 to $376.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Finally, Robert W. Baird raised their price objective on Norfolk Southern from $360.00 to $377.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $348.00.

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.

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