Boston Partners Has $983.16 Million Stock Position in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Boston Partners increased its stake in Norfolk Southern Corporation by 3.4%, now owning approximately 4.16 million shares valued at $983.16 million.
• Norfolk Southern reported a quarterly EPS of $3.29, surpassing analysts' expectations, with total revenue reaching $3.11 billion.
• The company recently declared a quarterly dividend of $1.35 per share, with a dividend yield of 1.9% and a payout ratio of 36.49%.

Boston Partners lifted its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,159,070 shares of the railroad operator's stock after acquiring an additional 138,678 shares during the period. Norfolk Southern comprises approximately 1.2% of Boston Partners' holdings, making the stock its 12th largest position. Boston Partners owned approximately 1.84% of Norfolk Southern worth $983,161,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $28,000. Putney Financial Group LLC acquired a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $30,000. Greenline Partners LLC acquired a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $31,000. HWG Holdings LP acquired a new stake in shares of Norfolk Southern during the first quarter worth approximately $35,000. Finally, Physician Wealth Advisors Inc. boosted its holdings in shares of Norfolk Southern by 129.2% during the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock worth $35,000 after purchasing an additional 84 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

NSC stock traded down $1.64 on Friday, reaching $280.86. 1,939,854 shares of the company were exchanged, compared to its average volume of 3,210,820. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $288.11. The stock's fifty day moving average price is $266.84 and its 200 day moving average price is $246.75. The firm has a market capitalization of $63.09 billion, a PE ratio of 18.98, a PEG ratio of 2.51 and a beta of 1.31. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) 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 analyst estimates of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. On average, research analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, August 1st. Norfolk Southern's payout ratio is currently 36.49%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Baird R W upgraded shares of Norfolk Southern to a "hold" rating in a research note on Tuesday, July 1st. Sanford C. Bernstein lifted their target price on shares of Norfolk Southern from $295.00 to $305.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $288.00 target price (up from $282.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Barclays lifted their target price on shares of Norfolk Southern from $290.00 to $300.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $278.00 target price on shares of Norfolk Southern in a research note on Monday, June 2nd. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $285.15.

About Norfolk Southern

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.