Norfolk Southern Corporation $NSC Shares Acquired by Strs Ohio

Key Points

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Strs Ohio raised its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 21.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,676 shares of the railroad operator's stock after acquiring an additional 11,439 shares during the period. Strs Ohio's holdings in Norfolk Southern were worth $18,673,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Place Capital Corp lifted its stake in Norfolk Southern by 13,000.0% during the 3rd quarter. Park Place Capital Corp now owns 3,668 shares of the railroad operator's stock valued at $1,102,000 after acquiring an additional 3,640 shares during the period. Cullen Capital Management LLC increased its holdings in shares of Norfolk Southern by 31.8% during the 3rd quarter. Cullen Capital Management LLC now owns 121,351 shares of the railroad operator's stock valued at $36,455,000 after purchasing an additional 29,264 shares in the last quarter. Markel Group Inc. increased its holdings in shares of Norfolk Southern by 8.5% during the 3rd quarter. Markel Group Inc. now owns 256,500 shares of the railroad operator's stock valued at $77,055,000 after purchasing an additional 20,000 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Norfolk Southern during the 3rd quarter valued at approximately $24,033,000. Finally, AlphaQuest LLC purchased a new position in shares of Norfolk Southern during the 3rd quarter valued at approximately $2,165,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $316.26 on Monday. Norfolk Southern Corporation has a 52-week low of $218.05 and a 52-week high of $323.37. The firm has a market capitalization of $71.03 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 5.84 and a beta of 1.30. The company has a fifty day simple moving average of $299.64 and a 200-day simple moving average of $294.41. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the firm earned $2.69 earnings per share. The company's revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts anticipate that Norfolk Southern Corporation will post 12.11 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern's dividend payout ratio is presently 45.49%.

Wall Street Analysts Forecast Growth

NSC has been the subject of several recent research reports. Argus raised shares of Norfolk Southern to a "hold" rating in a report on Wednesday, February 25th. TD Cowen lifted their target price on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a "buy" rating in a report on Monday, April 27th. UBS Group lowered shares of Norfolk Southern from a "buy" rating to a "neutral" rating and set a $342.00 target price for the company. in a report on Friday, February 6th. Zacks Research raised shares of Norfolk Southern from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. Finally, Jefferies Financial Group cut their target price on shares of Norfolk Southern from $350.00 to $310.00 and set a "hold" rating for the company in a report on Monday, April 6th. Six analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. According to data from MarketBeat.com, Norfolk Southern has an average rating of "Hold" and a consensus target price of $320.67.

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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