95,704 Shares in Norfolk Southern Corporation $NSC Purchased by PSquared Asset Management AG

Key Points

• PSquared Asset Management AG acquired 95,704 Norfolk Southern shares worth approximately $30.1 million, making the railroad operator its sixth-largest holding and representing 9.8% of its portfolio. Institutional investors collectively own 75.1% of NSC.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in EPS on $3.46 billion in revenue, with revenue up 12.5% year over year.
• The stock opened at $347.32, while analysts maintained a consensus “Hold” rating with an average price target of $348. The company also pays a $1.35 quarterly dividend, equivalent to a 1.6% yield.

PSquared Asset Management AG acquired a new stake 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 SEC. The institutional investor acquired 95,704 shares of the railroad operator's stock, valued at approximately $30,108,000. Norfolk Southern comprises about 9.8% of PSquared Asset Management AG's investment portfolio, making the stock its 6th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Old North State Trust LLC bought a new stake in shares of Norfolk Southern during the second quarter worth $305,000. Equitable Holdings Inc. acquired a new stake in shares of Norfolk Southern during the 2nd quarter valued at $2,273,000. Centaurus Financial Inc. acquired a new stake in shares of Norfolk Southern during the 2nd quarter valued at $125,000. Coastal Bridge Advisors LLC bought a new stake in Norfolk Southern during the 2nd quarter worth $588,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Norfolk Southern during the 2nd quarter worth $27,198,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Down 1.5%

Shares of NYSE:NSC opened at $347.32 on Friday. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. 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 business's 50-day moving average is $331.90 and its 200-day moving average is $314.78. The company has a market capitalization of $78.01 billion, a price-to-earnings ratio of 29.63, a P/E/G ratio of 5.29 and a beta of 1.27.

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

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. Norfolk Southern's dividend payout ratio (DPR) is 46.08%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NSC. UBS Group reiterated a "neutral" rating and issued a $363.00 target price on shares of Norfolk Southern in a research report on Friday, July 24th. Wells Fargo & Company upped their price objective on Norfolk Southern from $365.00 to $385.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. BMO Capital Markets raised their price objective on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a "market perform" rating in a report on Monday, July 27th. TD Cowen lifted their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Finally, Stephens raised shares of Norfolk Southern to a "hold" rating in a report on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $348.00.

About Norfolk Southern

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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