Kapitalo Investimentos Ltda Acquires New Stake in Norfolk Southern Corporation $NSC

Key Points

• Kapitalo Investimentos acquired 13,688 Norfolk Southern shares worth approximately $4.23 million during the third quarter, making NSC its 27th-largest holding and 0.3% of its portfolio.
• Institutional ownership remains high at 75.1%, with major investors including BlackRock, Bank of America, Legal & General, Bank of New York Mellon, and Deutsche Bank holding significant positions.
• Norfolk Southern exceeded quarterly earnings expectations, reporting $3.52 in EPS and $3.46 billion in revenue, while analysts maintain an overall “Hold” rating with an average price target of $346.94.

Kapitalo Investimentos Ltda acquired a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,688 shares of the railroad operator's stock, valued at approximately $4,230,000. Norfolk Southern comprises 0.3% of Kapitalo Investimentos Ltda's investment portfolio, making the stock its 27th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Norfolk Southern during the 2nd quarter worth $5,033,549,000. Bank of America Corp DE purchased a new position in Norfolk Southern in the second quarter worth $978,977,000. Legal & General Group Plc bought a new position in Norfolk Southern in the second quarter valued at $503,093,000. Bank of New York Mellon Corp bought a new position in Norfolk Southern in the second quarter valued at $364,414,000. Finally, Deutsche Bank AG bought a new position in Norfolk Southern in the second quarter valued at $356,558,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $325.64 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The stock has a market cap of $73.14 billion, a PE ratio of 27.79, a PEG ratio of 4.82 and a beta of 1.29. The company's fifty day moving average is $326.76 and its 200 day moving average is $319.96. Norfolk Southern Corporation has a 52 week low of $277.80 and a 52 week high of $358.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the business posted $3.29 earnings per share. The company's revenue was up 12.5% on a year-over-year basis. Research analysts anticipate that Norfolk Southern Corporation will post 12.81 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on NSC. UBS Group restated a "neutral" rating and set a $363.00 price target on shares of Norfolk Southern in a research report on Friday, July 24th. Robert W. Baird upped their price objective on Norfolk Southern from $360.00 to $377.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Evercore upped their price objective on Norfolk Southern from $358.00 to $360.00 in a report on Wednesday, September 30th. Barclays increased their price objective on Norfolk Southern from $360.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company raised their price objective on Norfolk Southern from $365.00 to $385.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $346.94.

About Norfolk Southern

Norfolk Southern Corporation NYSE: NSC is a transportation company that operates one of the largest freight railroad networks in the eastern United States. Through its Norfolk Southern Railway subsidiary, the company provides rail transportation and related services across a broad territory spanning portions of the Midwest, South and East Coast, including access to major industrial centers, ports and distribution markets.

Norfolk Southern transports a diverse range of commodities, including intermodal freight, merchandise, automotive products, coal and other energy-related materials.

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