9,586 Shares in Norfolk Southern Corporation $NSC Acquired by Olde Wealth Management LLC

Key Points

• Olde Wealth Management established a new position in Norfolk Southern, buying 9,586 shares (~$2.75M)0.9% of its portfolio and is its 20th-largest holding.
• Institutional ownership is high at 75.1%, with large managers like Vanguard, Dodge & Cox, EdgePoint and Lazard increasing stakes and Norges Bank opening a new position worth about $613M, signaling strong institutional interest.
• Norfolk Southern recently beat EPS expectations ($3.22 vs. $2.76), has a market cap of roughly $64.96B and pays a quarterly dividend of $1.35 (annualized yield ~1.9%).

Olde Wealth Management LLC bought a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,586 shares of the railroad operator's stock, valued at approximately $2,750,000. Norfolk Southern accounts for about 0.9% of Olde Wealth Management LLC's investment portfolio, making the stock its 20th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Norfolk Southern by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 20,561,273 shares of the railroad operator's stock valued at $5,263,069,000 after purchasing an additional 239,914 shares during the period. Dodge & Cox lifted its holdings in shares of Norfolk Southern by 1.8% in the second quarter. Dodge & Cox now owns 10,859,121 shares of the railroad operator's stock valued at $2,779,609,000 after buying an additional 192,567 shares during the period. EdgePoint Investment Group Inc. lifted its holdings in shares of Norfolk Southern by 4.6% in the second quarter. EdgePoint Investment Group Inc. now owns 4,182,921 shares of the railroad operator's stock valued at $1,070,702,000 after buying an additional 184,586 shares during the period. Lazard Asset Management LLC boosted its stake in Norfolk Southern by 6.5% during the second quarter. Lazard Asset Management LLC now owns 3,289,431 shares of the railroad operator's stock valued at $841,994,000 after buying an additional 201,861 shares in the last quarter. Finally, Norges Bank acquired a new position in Norfolk Southern during the second quarter worth about $613,255,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Trading Down 0.7%

NYSE:NSC opened at $289.25 on Friday. The stock has a fifty day simple moving average of $300.74 and a 200 day simple moving average of $291.99. The firm has a market capitalization of $64.96 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 5.26 and a beta of 1.31. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $319.94. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the company earned $3.04 EPS. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. Sell-side analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were issued a dividend of $1.35 per share. The ex-dividend date was Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern's payout ratio is currently 42.35%.

Analysts Set New Price Targets

NSC has been the topic of several research reports. Rothschild & Co Redburn boosted their price target on shares of Norfolk Southern from $299.00 to $317.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 4th. Zacks Research upgraded shares of Norfolk Southern from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. Wolfe Research lifted their price objective on shares of Norfolk Southern from $361.00 to $368.00 and gave the stock an "outperform" rating in a research note on Thursday, January 8th. Weiss Ratings upgraded shares of Norfolk Southern from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday. Finally, Royal Bank Of Canada cut their target price on shares of Norfolk Southern from $325.00 to $320.00 and set a "sector perform" rating for the company in a research note on Friday, January 30th. Eight analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $308.95.

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.

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