Norfolk Southern Corporation $NSC Shares Purchased by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC sharply increased its stake in Norfolk Southern, boosting holdings by 175.7% in the fourth quarter to 837,154 shares worth about $241.7 million.
• Norfolk Southern reported Q1 earnings of $2.65 per share, topping estimates, though revenue of $3.0 billion came in below expectations. The company also posted a 1.7% dividend yield after paying a quarterly dividend of $1.35 per share.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating with an average price target of $322.71, while recent target adjustments ranged from $292 to $325.

Squarepoint Ops LLC boosted its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 175.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 837,154 shares of the railroad operator's stock after buying an additional 533,487 shares during the quarter. Norfolk Southern accounts for approximately 0.3% of Squarepoint Ops LLC's holdings, making the stock its 23rd biggest holding. Squarepoint Ops LLC owned about 0.37% of Norfolk Southern worth $241,703,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NSC. Brighton Jones LLC lifted its holdings in Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after buying an additional 79 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock worth $1,527,000 after buying an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Norfolk Southern in the 2nd quarter worth $327,000. Schnieders Capital Management LLC. lifted its holdings in Norfolk Southern by 64.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator's stock worth $1,094,000 after buying an additional 1,670 shares in the last quarter. Finally, Jump Financial LLC raised its stake in shares of Norfolk Southern by 185.1% in the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator's stock valued at $1,174,000 after purchasing an additional 2,979 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Price Performance

NSC opened at $314.05 on Monday. The firm has a market cap of $70.53 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 5.79 and a beta of 1.27. Norfolk Southern Corporation has a fifty-two week low of $247.85 and a fifty-two week high of $326.00. The company's 50-day moving average price is $308.35 and its 200 day moving average price is $300.20. 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 quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. Norfolk Southern's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.69 earnings per share. As a group, sell-side analysts expect that Norfolk Southern Corporation will post 12.12 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a $1.35 dividend. The ex-dividend date was Friday, May 8th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern's dividend payout ratio is 45.49%.

Analysts Set New Price Targets

NSC has been the topic of a number of recent analyst reports. BMO Capital Markets upped their target price on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a "market perform" rating in a research note on Monday, April 27th. Evercore set a $325.00 target price on shares of Norfolk Southern in a research note on Friday, April 24th. Wall Street Zen upgraded shares of Norfolk Southern from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. JPMorgan Chase & Co. cut their target price on shares of Norfolk Southern from $296.00 to $292.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. Finally, Argus upgraded shares of Norfolk Southern to a "hold" rating in a research note on Wednesday, February 25th. Six investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $322.71.

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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