Norfolk Southern Corporation $NSC Stock: Chicago Partners Investment Group LLC Raises Stake

Key Points

• Chicago Partners Investment Group increased its Norfolk Southern stake by 80.3% in the third quarter, to 7,879 shares valued at about $2.6 million. Institutional investors own 75.1% of the company’s stock.
• Norfolk Southern beat quarterly earnings and revenue estimates, 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 an annualized yield of 1.7%. Analysts’ consensus rating was “Hold,” with an average price target of $348.81.

Chicago Partners Investment Group LLC boosted its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 80.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,879 shares of the railroad operator's stock after buying an additional 3,510 shares during the period. Chicago Partners Investment Group LLC's holdings in Norfolk Southern were worth $2,600,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Norfolk Southern during the second quarter worth approximately $5,033,549,000. Bank of America Corp DE acquired a new position in shares of Norfolk Southern in the 2nd quarter worth $978,977,000. Dimensional Fund Advisors LP raised its position in shares of Norfolk Southern by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,259,558 shares of the railroad operator's stock worth $648,429,000 after purchasing an additional 46,127 shares during the period. Amundi lifted its holdings in shares of Norfolk Southern by 24.2% during the first quarter. Amundi now owns 2,226,885 shares of the railroad operator's stock valued at $639,116,000 after purchasing an additional 434,074 shares during the last quarter. Finally, HBK Investments L P boosted its position 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 purchasing an additional 13,644 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Down 2.8%

Shares of NSC traded down $9.19 during trading hours on Friday, hitting $320.06. 1,280,254 shares of the company were exchanged, compared to its average volume of 787,048. The company has a market cap of $71.89 billion, a PE ratio of 26.83, a PEG ratio of 5.17 and a beta of 1.20. The firm's 50 day moving average is $324.86 and its 200-day moving average is $316.10. Norfolk Southern Corporation has a 52 week low of $277.80 and a 52 week high of $358.60. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.90.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The railroad operator reported $3.62 EPS for the quarter, beating the consensus estimate of $3.46 by $0.16. The company had revenue of $3.53 billion for 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 company's revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.30 earnings per share. On average, equities research analysts forecast that Norfolk Southern Corporation will post 12.80 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

Analyst Upgrades and Downgrades

NSC has been the topic of several recent analyst reports. Barclays boosted their price objective on Norfolk Southern from $360.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of Norfolk Southern from $318.00 to $323.00 and gave the company a "neutral" rating in a report on Friday, October 23rd. BMO Capital Markets upped their price target on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. Susquehanna cut their target price on shares of Norfolk Southern from $386.00 to $350.00 and set a "neutral" rating on the stock in a research note on Friday, October 2nd. Finally, UBS Group restated a "neutral" rating on shares of Norfolk Southern in a report on Monday, October 26th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target 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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