Alberta Investment Management Corp Purchases 5,100 Shares of Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Alberta Investment Management Corp increased its stake in Norfolk Southern Corporation by 11.6%, now owning 49,072 shares valued at approximately $11.6 million.
• The company's recent quarterly earnings exceeded analysts' expectations, reporting $3.29 earnings per share against a consensus estimate of $3.24.
• Norfolk Southern announced a quarterly dividend of $1.35 per share, which translates to an annualized yield of 2.0%.

Alberta Investment Management Corp increased its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 11.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,072 shares of the railroad operator's stock after buying an additional 5,100 shares during the quarter. Alberta Investment Management Corp's holdings in Norfolk Southern were worth $11,623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NSC. HHM Wealth Advisors LLC boosted its stake in Norfolk Southern by 1.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 9,888 shares of the railroad operator's stock valued at $2,342,000 after purchasing an additional 147 shares in the last quarter. Hoxton Planning & Management LLC bought a new position in Norfolk Southern during the 1st quarter valued at $561,000. NorthRock Partners LLC boosted its stake in Norfolk Southern by 3.1% during the 1st quarter. NorthRock Partners LLC now owns 2,567 shares of the railroad operator's stock valued at $608,000 after purchasing an additional 78 shares in the last quarter. Tower Bridge Advisors boosted its stake in Norfolk Southern by 0.6% during the 1st quarter. Tower Bridge Advisors now owns 8,306 shares of the railroad operator's stock valued at $1,967,000 after purchasing an additional 50 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in Norfolk Southern by 7.7% during the 1st quarter. Arkadios Wealth Advisors now owns 3,295 shares of the railroad operator's stock valued at $780,000 after purchasing an additional 236 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Performance

NSC stock traded down $3.43 during midday trading on Friday, reaching $274.57. 2,727,424 shares of the company were exchanged, compared to its average volume of 2,988,673. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71. The business has a 50-day moving average price of $259.97 and a two-hundred day moving average price of $244.71. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $288.11. The firm has a market capitalization of $61.67 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 2.44 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.05. The firm had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. Equities research analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.0%. Norfolk Southern's dividend payout ratio (DPR) is currently 36.49%.

Analyst Ratings Changes

A number of brokerages have issued reports on NSC. TD Cowen raised Norfolk Southern from a "hold" rating to a "buy" rating and increased their price target for the company from $263.00 to $323.00 in a research note on Monday, July 21st. Baird R W upgraded Norfolk Southern to a "hold" rating in a research report on Tuesday, July 1st. Evercore ISI reiterated an "in-line" rating and set a $289.00 price objective (up previously from $279.00) on shares of Norfolk Southern in a research report on Wednesday. UBS Group increased their price objective on Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Finally, Royal Bank Of Canada downgraded Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $285.15.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.