Dimensional Fund Advisors LP Buys 46,127 Shares of Norfolk Southern Corporation $NSC

Key Points

• Dimensional Fund Advisors LP increased its Norfolk Southern stake by 2.1% in Q1, buying 46,127 more shares and bringing its holding to 2,259,558 shares worth about $648.4 million.
• Institutional ownership remains very high, with several large investors including Vanguard, State Street, Geode Capital, and Norges Bank holding major positions; overall, institutions own about 75.1% of the stock.
• Norfolk Southern reported better-than-expected EPS of $2.65 for the quarter, but revenue of $3 billion came in below estimates; the company also pays a quarterly dividend of $1.35 per share, or $5.40 annually.

Dimensional Fund Advisors LP boosted its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,259,558 shares of the railroad operator's stock after purchasing an additional 46,127 shares during the quarter. Dimensional Fund Advisors LP owned about 1.01% of Norfolk Southern worth $648,429,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Norfolk Southern by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator's stock valued at $6,012,836,000 after buying an additional 272,651 shares in the last quarter. State Street Corp boosted its holdings in Norfolk Southern by 4.1% in the fourth quarter. State Street Corp now owns 9,710,549 shares of the railroad operator's stock worth $2,803,630,000 after acquiring an additional 379,819 shares in the last quarter. Geode Capital Management LLC grew its stake in Norfolk Southern by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator's stock valued at $1,401,797,000 after acquiring an additional 36,205 shares during the period. Norges Bank acquired a new stake in Norfolk Southern in the fourth quarter valued at approximately $1,084,701,000. Finally, Pentwater Capital Management LP increased its holdings in shares of Norfolk Southern by 9.8% during the fourth quarter. Pentwater Capital Management LP now owns 3,019,000 shares of the railroad operator's stock valued at $871,646,000 after acquiring an additional 269,000 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Up 0.0%

NSC stock opened at $340.24 on Monday. The firm has a market capitalization of $76.42 billion, a PE ratio of 28.66, a P/E/G ratio of 6.22 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $342.53. The stock's 50 day moving average is $314.78 and its 200-day moving average is $304.50.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the company posted $2.69 earnings per share. Norfolk Southern's revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that Norfolk Southern Corporation will post 12.24 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $1.35 dividend. The ex-dividend date was Friday, May 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. Norfolk Southern's dividend payout ratio is currently 45.49%.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of research reports. Robert W. Baird upped their target price on Norfolk Southern from $330.00 to $360.00 and gave the stock a "neutral" rating in a research report on Friday, July 10th. Susquehanna lifted their price target on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Wolfe Research boosted their price target on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an "outperform" rating in a research note on Tuesday, April 7th. BMO Capital Markets upped their price objective on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a "market perform" rating in a report on Monday, April 27th. Finally, Sanford C. Bernstein dropped their price objective on shares of Norfolk Southern from $322.00 to $313.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 31st. Six analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $329.35.

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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