Sculptor Capital LP acquired a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 366,413 shares of the railroad operator's stock, valued at approximately $115,270,000. Norfolk Southern comprises about 0.9% of Sculptor Capital LP's investment portfolio, making the stock its 22nd largest holding. Sculptor Capital LP owned approximately 0.16% of Norfolk Southern as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of NSC. JPL Wealth Management LLC bought a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in Norfolk Southern during the 2nd quarter valued at $26,000. Meeder Asset Management Inc. bought a new position in Norfolk Southern in the 2nd quarter valued at $27,000. BNP Paribas bought a new position in Norfolk Southern in the 2nd quarter valued at $26,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in Norfolk Southern in the second quarter worth $31,000. Hedge funds and other institutional investors own 75.10% of the company's stock.
Wall Street Analysts Forecast Growth
NSC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Norfolk Southern from $316.00 to $338.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. TD Cowen raised their price target on shares of Norfolk Southern from $337.00 to $376.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Wall Street Zen raised shares of Norfolk Southern from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded shares of Norfolk Southern from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 24th. Finally, Evercore set a $358.00 price objective on shares of Norfolk Southern in a research report on Thursday, July 23rd. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $348.00.
View Our Latest Stock Analysis on NSC
Norfolk Southern Price Performance
Shares of NSC opened at $351.73 on Wednesday. The company has a 50 day moving average price of $329.90 and a 200-day moving average price of $314.17. Norfolk Southern Corporation has a fifty-two week low of $268.23 and a fifty-two week high of $358.60. The stock has a market capitalization of $79.00 billion, a PE ratio of 30.01, a PEG ratio of 6.25 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83.
Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.20. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. Norfolk Southern's revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company posted $3.29 earnings per share. Equities analysts predict that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.
Norfolk Southern Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern's dividend payout ratio (DPR) is 46.08%.
About Norfolk Southern
(
Free Report)
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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