Capital Square LLC bought a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,203 shares of the railroad operator's stock, valued at approximately $1,376,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Norfolk Southern during the second quarter valued at about $1,391,000. DLD Asset Management LP bought a new stake in Norfolk Southern in the 2nd quarter worth about $7,202,000. Magellan Asset Management Ltd bought a new stake in Norfolk Southern in the 2nd quarter worth about $63,341,000. Haverford Trust Co purchased a new stake in Norfolk Southern in the 2nd quarter valued at about $3,899,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in Norfolk Southern in the 2nd quarter valued at about $888,000. Hedge funds and other institutional investors own 75.10% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on NSC shares. Stephens upgraded Norfolk Southern to a "hold" rating in a research note on Wednesday, July 8th. Wells Fargo & Company increased their price target on Norfolk Southern from $365.00 to $385.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. Susquehanna lifted their price target on Norfolk Southern from $337.00 to $360.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Rothschild & Co Redburn boosted their price objective on Norfolk Southern from $308.00 to $315.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. Finally, UBS Group restated a "neutral" rating and issued a $363.00 price objective on shares of Norfolk Southern in a research note on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $348.00.
Read Our Latest Analysis on Norfolk Southern
Norfolk Southern Stock Performance
NYSE:NSC opened at $350.77 on Monday. 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 has a fifty day simple moving average of $328.23 and a two-hundred day simple moving average of $313.47. The company has a market capitalization of $78.79 billion, a P/E ratio of 29.93, a P/E/G ratio of 6.21 and a beta of 1.27.
Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.32 by $0.20. The business had revenue of $3.46 billion for 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 quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.29 EPS. On average, analysts expect that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.
Norfolk Southern Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.5%. Norfolk Southern's payout ratio is 46.08%.
About Norfolk Southern
(
Free Report)
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.
See Also
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