National Pension Service Increases Position in Norfolk Southern Corporation $NSC

Key Points

• National Pension Service increased its Norfolk Southern stake by 3.4% in the second quarter, adding 17,809 shares to own 548,054 shares valued at approximately $172.4 million. Institutional investors collectively hold 75.1% of the company.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in EPS and $3.46 billion in revenue, with revenue up 12.5% year over year. The company also maintains a quarterly dividend of $1.35, equivalent to a 1.7% yield.
• Analysts have a consensus “Hold” rating and an average price target of $348, despite several firms raising their targets; shares recently opened at $323.38.

National Pension Service increased its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 3.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 548,054 shares of the railroad operator's stock after purchasing an additional 17,809 shares during the quarter. National Pension Service owned approximately 0.24% of Norfolk Southern worth $172,412,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NSC. JPL Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the third quarter valued at about $25,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Norfolk Southern during the second quarter valued at approximately $26,000. BNP Paribas acquired a new stake in Norfolk Southern in the second quarter valued at approximately $26,000. Meeder Asset Management Inc. purchased a new position in Norfolk Southern in the second quarter worth $27,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in Norfolk Southern in the second quarter worth $31,000. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Up 0.0%

Shares of NYSE:NSC opened at $323.38 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. Norfolk Southern Corporation has a 52-week low of $271.88 and a 52-week high of $358.60. The stock has a market cap of $72.63 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 4.80 and a beta of 1.27. The business has a 50-day moving average price of $336.05 and a 200-day moving average price of $315.95.

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, 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 for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the firm earned $3.29 earnings per share. Norfolk Southern's revenue for the quarter was up 12.5% on a year-over-year basis. Equities analysts predict that Norfolk Southern Corporation will post 12.87 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern's dividend payout ratio is 46.08%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup raised their price objective on Norfolk Southern from $351.00 to $376.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Royal Bank Of Canada increased their price target on Norfolk Southern from $320.00 to $360.00 and gave the company a "sector perform" rating in a research note on Friday, July 24th. Robert W. Baird raised their price target on Norfolk Southern from $360.00 to $377.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. TD Cowen boosted 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. Finally, Barclays upped their price objective on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, Norfolk Southern currently has a consensus rating of "Hold" and an average target price of $348.00.

About Norfolk Southern

Norfolk Southern Corporation is a major freight railroad company serving the eastern United States. Through its railway network, the company transports raw materials, intermediate goods and finished products for industrial, agricultural, manufacturing and consumer markets. Its operations connect customers with domestic markets, major ports and other rail carriers.

The company transports a diverse range of commodities, including intermodal containers, coal, automotive products, agriculture and consumer goods, chemicals, metals, forest products and construction materials.

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