Global Retirement Partners LLC Buys New Stake in Norfolk Southern Corporation $NSC

Key Points

• Global Retirement Partners acquired 2,986 Norfolk Southern shares in the second quarter, valued at approximately $939,000. Institutional investors and hedge funds collectively own 75.1% of the company.
• Norfolk Southern reported quarterly EPS of $3.52 and revenue of $3.46 billion, exceeding analyst estimates; revenue increased 12.5% year over year.
• The company declared a quarterly dividend of $1.35 per share, equivalent to $5.40 annually and a 1.6% yield. Analysts maintain a consensus “Hold” rating with a $348 average price target.

Global Retirement Partners LLC purchased a new stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,986 shares of the railroad operator's stock, valued at approximately $939,000.

Several other hedge funds have also recently bought and sold shares of the stock. JPL Wealth Management LLC bought a new stake in shares of Norfolk Southern in the 3rd quarter worth about $25,000. Meeder Asset Management Inc. lifted its holdings in Norfolk Southern by 239.3% during the 4th 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 during the last quarter. BNP Paribas acquired a new position in Norfolk Southern in the second quarter valued at about $26,000. Financial Life Planners acquired a new position in Norfolk Southern in the first quarter valued at about $33,000. Finally, Bayban bought a new stake in Norfolk Southern during the fourth quarter worth about $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Trading Down 0.5%

NYSE NSC opened at $339.44 on Wednesday. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The stock has a 50 day moving average of $326.03 and a 200-day moving average of $312.27. The company has a market cap of $76.24 billion, a PE ratio of 28.96, a PEG ratio of 5.92 and a beta of 1.27.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping the consensus estimate of $3.32 by $0.20. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.29 EPS. On average, equities research analysts anticipate that Norfolk Southern Corporation will post 12.66 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern's dividend payout ratio is currently 46.08%.

Wall Street Analyst Weigh In

NSC has been the topic of a number of research analyst reports. UBS Group restated a "neutral" rating and issued a $363.00 price objective on shares of Norfolk Southern in a research report on Friday, July 24th. Citigroup raised their price target on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Rothschild & Co Redburn boosted their price objective on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. Barclays lifted their target price on Norfolk Southern from $360.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. Finally, Royal Bank Of Canada boosted their target price on Norfolk Southern from $320.00 to $360.00 and gave the stock a "sector perform" rating in a research report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $348.00.

About Norfolk Southern

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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