DLD Asset Management LP Makes New $1.02 Million Investment in Norfolk Southern Corporation $NSC

Key Points

• DLD Asset Management LP opened a new position in Norfolk Southern in Q3, buying 3,394 shares worth about $1.02 million, and institutional investors/hedge funds now own roughly 75.1% of the stock.
• Analysts maintain a consensus "Hold" rating with an average target of $308.95, though opinions are mixed—Jefferies raised its target to $350 and Morgan Stanley upgraded the stock to Buy.
• Norfolk Southern beat EPS estimates ($3.22 vs. $2.76) while revenue of $3.0B slightly missed forecasts, and the company pays a quarterly dividend of $1.35 (annualized $5.40, ~1.8% yield).

DLD Asset Management LP acquired a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,394 shares of the railroad operator's stock, valued at approximately $1,020,000.

Several other hedge funds and other institutional investors have also modified their holdings of NSC. ORG Partners LLC raised its holdings in Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator's stock valued at $25,000 after buying an additional 36 shares during the period. Westside Investment Management Inc. lifted its position in Norfolk Southern by 207.1% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator's stock valued at $26,000 after buying an additional 58 shares in the last quarter. BNP Paribas purchased a new stake in Norfolk Southern during the second quarter worth approximately $26,000. True Wealth Design LLC increased its position in shares of Norfolk Southern by 423.8% in the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator's stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Finally, MMA Asset Management LLC acquired a new stake in shares of Norfolk Southern in the third quarter worth $28,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Norfolk Southern from $300.00 to $350.00 and gave the company a "hold" rating in a report on Tuesday, March 3rd. Benchmark reissued a "hold" rating on shares of Norfolk Southern in a research report on Friday, January 30th. Royal Bank Of Canada reduced their price objective on Norfolk Southern from $325.00 to $320.00 and set a "sector perform" rating on the stock in a research note on Friday, January 30th. JPMorgan Chase & Co. decreased their target price on Norfolk Southern from $301.00 to $296.00 and set a "neutral" rating for the company in a research report on Friday, January 30th. Finally, Morgan Stanley upgraded Norfolk Southern from an "equal weight" rating to a "buy" rating in a research note on Thursday, December 18th. Seven analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $308.95.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $303.02 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The company's fifty day moving average price is $300.10 and its two-hundred day moving average price is $291.64. The firm has a market capitalization of $68.05 billion, a P/E ratio of 23.77, a P/E/G ratio of 5.47 and a beta of 1.31. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $319.94.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period last year, the firm earned $3.04 earnings per share. The company's revenue was down 1.7% on a year-over-year basis. On average, research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were issued a dividend of $1.35 per share. The ex-dividend date was Friday, February 6th. This represents a $5.40 annualized dividend and a yield of 1.8%. Norfolk Southern's payout ratio is currently 42.35%.

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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