Man Group plc Makes New $56.13 Million Investment in Norfolk Southern Corporation $NSC

Man Group plc bought a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 178,433 shares of the railroad operator's stock, valued at approximately $56,133,000. Man Group plc owned 0.08% of Norfolk Southern as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Exencial Wealth Advisors LLC raised its stake in shares of Norfolk Southern by 1.1% during the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator's stock valued at $929,000 after acquiring an additional 35 shares during the last quarter. Sovereign Financial Group Inc. raised its position in Norfolk Southern by 3.3% during the 1st quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator's stock valued at $318,000 after purchasing an additional 35 shares during the last quarter. Bar Harbor Wealth Management raised its position in Norfolk Southern by 0.6% during the 1st quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator's stock valued at $1,805,000 after purchasing an additional 36 shares during the last quarter. Apollon Financial LLC lifted 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 during the period. Finally, Moss Adams Wealth Advisors LLC grew its position in shares of Norfolk Southern by 4.6% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator's stock worth $237,000 after buying an additional 36 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Price Performance

Shares of NSC opened at $351.73 on Wednesday. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60. The firm has a 50 day moving average of $329.90 and a 200 day moving average of $314.17. 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 company has a market capitalization of $79.00 billion, a P/E ratio of 30.01, a price-to-earnings-growth ratio of 6.25 and a beta of 1.27.

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

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, August 7th. Norfolk Southern's dividend payout ratio (DPR) is 46.08%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NSC. Citigroup upped their target price on Norfolk Southern from $351.00 to $376.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Wells Fargo & Company boosted their price objective on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Norfolk Southern from $316.00 to $338.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Wall Street Zen upgraded shares of Norfolk Southern from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, TD Cowen upped their price target on Norfolk Southern from $337.00 to $376.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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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