Calamos Advisors LLC Buys 31,837 Shares of Norfolk Southern Corporation $NSC

Key Points

• Calamos Advisors LLC increased its Norfolk Southern stake by 15.0% in the first quarter, buying 31,837 additional shares and bringing its total holding to 244,559 shares valued at about $70.2 million.
• Norfolk Southern reported better-than-expected quarterly earnings of $2.65 per share, topping analyst estimates, though revenue of $3.0 billion came in below expectations.
• The stock has been trading near its 52-week high, and analysts currently see it as a Hold overall with a consensus target price of $326.72, while the company also pays a quarterly dividend of $1.35 per share.

Calamos Advisors LLC grew its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 244,559 shares of the railroad operator's stock after purchasing an additional 31,837 shares during the period. Calamos Advisors LLC owned about 0.11% of Norfolk Southern worth $70,188,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. JPL Wealth Management LLC bought a new position in Norfolk Southern in the third quarter valued at approximately $25,000. GoalVest Advisory LLC boosted its stake in shares of Norfolk Southern by 933.3% during the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator's stock worth $27,000 after buying an additional 84 shares during the last quarter. Meeder Asset Management Inc. grew its stake in Norfolk Southern by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator's stock valued at $27,000 after purchasing an additional 67 shares in the last quarter. FNY Investment Advisers LLC grew its stake in shares of Norfolk Southern by 669.2% in the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator's stock valued at $30,000 after buying an additional 87 shares in the last quarter. Finally, BNP Paribas acquired a new position in shares of Norfolk Southern during the 2nd quarter worth about $26,000. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $327.85 on Tuesday. Norfolk Southern Corporation has a fifty-two week low of $257.49 and a fifty-two week high of $329.05. The company has a 50 day simple moving average of $313.27 and a two-hundred day simple moving average of $303.34. The company has a market capitalization of $73.63 billion, a PE ratio of 27.62, a P/E/G ratio of 6.02 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. Norfolk Southern's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.69 earnings per share. Research analysts anticipate that Norfolk Southern Corporation will post 12.17 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, May 8th. Norfolk Southern's payout ratio is presently 45.49%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Robert W. Baird boosted their target price on Norfolk Southern from $330.00 to $360.00 and gave the stock a "neutral" rating in a report on Friday. BMO Capital Markets lifted their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a "market perform" rating in a research report on Monday, April 27th. Royal Bank Of Canada dropped their price target on Norfolk Southern from $360.00 to $320.00 and set a "sector perform" rating for the company in a research note on Wednesday, June 24th. Sanford C. Bernstein cut their target price on Norfolk Southern from $322.00 to $313.00 and set an "outperform" rating for the company in a research note on Tuesday, March 31st. Finally, Rothschild & Co Redburn raised their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company's stock. According to data from MarketBeat, Norfolk Southern currently has a consensus rating of "Hold" and a consensus target price of $326.72.

Norfolk Southern 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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