Norfolk Southern Corporation $NSC Stake Raised by Vestor Capital LLC

Key Points

• Vestor Capital increased its Norfolk Southern stake by 1,827.8% in the third quarter, ending with 16,386 shares valued at about $5.06 million.
• Norfolk Southern beat quarterly earnings and revenue expectations, reporting EPS of $3.62 and revenue of $3.53 billion; revenue rose 13.6% year over year.
• The company declared a quarterly dividend of $1.35 per share, equivalent to $5.40 annually and a 1.7% yield. Analysts’ consensus rating was “Hold,” with an average price target of $348.81.

Vestor Capital LLC raised its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 1,827.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,386 shares of the railroad operator's stock after acquiring an additional 15,536 shares during the quarter. Vestor Capital LLC's holdings in Norfolk Southern were worth $5,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Norfolk Southern during the 2nd quarter worth $3,669,000. SCS Capital Management LLC acquired a new stake in shares of Norfolk Southern during the second quarter worth $13,837,000. NewEdge Advisors LLC raised its position in shares of Norfolk Southern by 17.2% during the second quarter. NewEdge Advisors LLC now owns 35,598 shares of the railroad operator's stock worth $11,199,000 after purchasing an additional 5,233 shares during the period. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Norfolk Southern during the second quarter worth $1,376,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in shares of Norfolk Southern by 29.2% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 54,620 shares of the railroad operator's stock valued at $17,183,000 after purchasing an additional 12,350 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $325.70 on Tuesday. The business's 50-day moving average price is $324.40 and its two-hundred day moving average price is $316.29. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.81. Norfolk Southern Corporation has a one year low of $277.80 and a one year high of $358.60. The company has a market capitalization of $73.16 billion, a P/E ratio of 27.30, a price-to-earnings-growth ratio of 5.14 and a beta of 1.20.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share for the quarter, topping analysts' consensus estimates of $3.46 by $0.16. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.48 billion. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. The business's quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the business earned $3.30 EPS. Analysts anticipate that Norfolk Southern Corporation will post 12.83 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be issued a $1.35 dividend. The ex-dividend date is Friday, November 6th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern's dividend payout ratio is currently 45.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. UBS Group reiterated a "neutral" rating on shares of Norfolk Southern in a research report on Monday, October 26th. Royal Bank Of Canada raised their price objective on shares of Norfolk Southern from $330.00 to $350.00 and gave the stock a "sector perform" rating in a research note on Friday, October 23rd. Barclays upped their price target on Norfolk Southern from $360.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. Weiss Ratings raised Norfolk Southern from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. Finally, Wells Fargo & Company increased their price objective on Norfolk Southern from $365.00 to $385.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $348.81.

About Norfolk Southern

Norfolk Southern Corporation is a freight transportation company that operates a major railroad network across the eastern United States. Its rail services connect businesses, ports and communities, and link with other railroads to move goods across North America.

The company transports a broad range of products, including coal, chemicals, agricultural goods, automotive vehicles and parts, metals, construction materials and consumer products. Its services include intermodal transportation, which combines rail with truck or container shipping, as well as rail freight and logistics solutions.

Norfolk Southern was formed in 1982 through the merger of the Norfolk and Western Railway and the Southern Railway.

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