Norfolk Southern Corporation $NSC Stock: Calamos Advisors LLC Boosts Stake

Key Points

• Calamos Advisors increased its Norfolk Southern stake by 13.5% in the third quarter, adding 32,775 shares to reach 274,799 shares valued at about $84.9 million.
• Norfolk Southern beat quarterly earnings and revenue expectations, reporting EPS of $3.62 and revenue of $3.53 billion; revenue grew 13.6% year over year.
• Analysts’ consensus rating was Hold, with a consensus price target of $348.81. The company declared a quarterly dividend of $1.35 per share, equivalent to a 1.7% yield.

Calamos Advisors LLC grew its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,799 shares of the railroad operator's stock after acquiring an additional 32,775 shares during the period. Calamos Advisors LLC owned about 0.12% of Norfolk Southern worth $84,913,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NSC. BlackRock Inc. bought a new stake in Norfolk Southern in the second quarter valued at about $5,033,549,000. Bank of America Corp DE bought a new position in Norfolk Southern during the 2nd quarter worth approximately $978,977,000. Dimensional Fund Advisors LP grew its position in shares of Norfolk Southern by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,259,558 shares of the railroad operator's stock worth $648,429,000 after acquiring an additional 46,127 shares in the last quarter. Amundi grew its position in shares of Norfolk Southern by 24.2% in the 1st quarter. Amundi now owns 2,226,885 shares of the railroad operator's stock worth $639,116,000 after acquiring an additional 434,074 shares in the last quarter. Finally, HBK Investments L P increased its holdings in shares of Norfolk Southern by 0.8% in the 2nd quarter. HBK Investments L P now owns 1,750,000 shares of the railroad operator's stock valued at $550,532,000 after acquiring an additional 13,644 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Performance

NSC stock traded down $9.19 during trading on Friday, reaching $320.06. 1,280,254 shares of the company's stock were exchanged, compared to its average volume of 787,048. Norfolk Southern Corporation has a 1-year low of $277.80 and a 1-year high of $358.60. The firm has a market cap of $71.89 billion, a PE ratio of 26.83, a P/E/G ratio of 5.17 and a beta of 1.20. The company's fifty day moving average price is $324.86 and its 200-day moving average price is $316.10. The company has a quick ratio of 0.81, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The railroad operator reported $3.62 EPS for the quarter, beating analysts' consensus estimates of $3.46 by $0.16. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.48 billion. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. The company's quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the company earned $3.30 earnings per share. On average, research analysts expect that Norfolk Southern Corporation will post 12.80 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, November 6th. Norfolk Southern's payout ratio is 45.26%.

Analysts Set New Price Targets

NSC has been the topic of several research reports. UBS Group reissued a "neutral" rating on shares of Norfolk Southern in a research report on Monday, October 26th. Wells Fargo & Company boosted their target price on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Norfolk Southern from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 9th. Susquehanna dropped their target price on Norfolk Southern from $386.00 to $350.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Finally, Robert W. Baird boosted their target price on shares of Norfolk Southern from $360.00 to $377.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $348.81.

Norfolk Southern Profile

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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