Great Lakes Advisors LLC Invests $1.04 Million in Norfolk Southern Corporation $NSC

Key Points

• Great Lakes Advisors acquired 3,320 Norfolk Southern shares during the second quarter, valued at approximately $1.04 million. Institutional investors collectively own 75.1% of the railroad operator.
• Norfolk Southern reported quarterly EPS of $3.52, exceeding estimates of $3.32, while revenue rose 12.5% year over year to $3.46 billion. The company also pays a quarterly dividend of $1.35 per share, yielding about 1.5% annually.
• The stock opened at $350.77, near its 12-month high of $358.60. Analysts have a consensus “Hold” rating and an average price target of $348.00, despite several recent target-price increases.

Great Lakes Advisors LLC acquired a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,320 shares of the railroad operator's stock, valued at approximately $1,045,000.

Other hedge funds have also recently bought and sold shares of the company. Exencial Wealth Advisors LLC increased its stake in shares of Norfolk Southern by 1.1% in the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator's stock valued at $929,000 after purchasing an additional 35 shares during the period. Sovereign Financial Group Inc. boosted its position in shares of Norfolk Southern by 3.3% during the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator's stock worth $318,000 after buying an additional 35 shares during the period. Bar Harbor Wealth Management grew its holdings in Norfolk Southern by 0.6% in the 1st quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator's stock worth $1,805,000 after buying an additional 36 shares in the last quarter. Apollon Financial LLC grew its holdings in Norfolk Southern by 4.3% in the 1st quarter. Apollon Financial LLC now owns 881 shares of the railroad operator's stock worth $253,000 after buying an additional 36 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its position in Norfolk Southern by 4.6% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator's stock valued at $237,000 after acquiring an additional 36 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $350.77 on Friday. The stock has a market cap of $78.79 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 6.21 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The stock's 50 day moving average price is $328.23 and its 200 day moving average price is $313.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results 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. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the company posted $3.29 EPS. The firm's quarterly revenue was up 12.5% on a year-over-year basis. Equities research analysts anticipate that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern's payout ratio is presently 46.08%.

Analyst Upgrades and Downgrades

NSC has been the topic of several recent analyst reports. BMO Capital Markets lifted their target price on Norfolk Southern from $310.00 to $355.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. JPMorgan Chase & Co. increased their price target on Norfolk Southern from $316.00 to $338.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Susquehanna raised their price target on Norfolk Southern from $337.00 to $360.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Rothschild & Co Redburn lifted their price objective 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. Finally, Wall Street Zen raised shares of Norfolk Southern from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Seven research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of "Hold" and a consensus target price of $348.00.

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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