Norfolk Southern Corporation $NSC Stock Holdings Increased by Capricorn Fund Managers Ltd

Key Points

• Capricorn Fund Managers Ltd increased its Norfolk Southern stake by 144.5% in the first quarter, adding 36,117 shares to bring its total to 61,117 shares worth about $17.5 million.
• Norfolk Southern reported strong quarterly earnings of $2.65 per share, topping analyst estimates of $2.49, although revenue of $3.0 billion came in below expectations.
• The railroad company also paid a quarterly dividend of $1.35 per share, implying an annualized dividend of $5.40 and a yield of 1.7%.

Capricorn Fund Managers Ltd lifted its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 144.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,117 shares of the railroad operator's stock after buying an additional 36,117 shares during the quarter. Norfolk Southern makes up approximately 2.7% of Capricorn Fund Managers Ltd's portfolio, making the stock its 9th biggest position. Capricorn Fund Managers Ltd's holdings in Norfolk Southern were worth $17,541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC grew its stake in Norfolk Southern by 4.9% during 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 during the last quarter. Intech Investment Management LLC grew its holdings in Norfolk Southern by 40.4% in the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock valued at $1,527,000 after purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Norfolk Southern during the second quarter worth about $327,000. Schnieders Capital Management LLC. lifted its position in shares of Norfolk Southern by 64.1% in the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator's stock valued at $1,094,000 after acquiring an additional 1,670 shares in the last quarter. Finally, Jump Financial LLC boosted its position in Norfolk Southern by 185.1% during the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator's stock worth $1,174,000 after acquiring an additional 2,979 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 0.6%

Shares of Norfolk Southern stock opened at $314.68 on Wednesday. The stock has a market capitalization of $70.67 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 5.84 and a beta of 1.27. Norfolk Southern Corporation has a twelve month low of $255.41 and a twelve month high of $326.00. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The business's 50 day simple moving average is $311.31 and its 200-day simple moving average is $301.49.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the business posted $2.69 EPS. Norfolk Southern's revenue was up .2% on a year-over-year basis. Equities research analysts forecast that Norfolk Southern Corporation will post 12.12 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on NSC shares. JPMorgan Chase & Co. dropped their price objective on shares of Norfolk Southern from $296.00 to $292.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. TD Cowen raised their target price on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Sanford C. Bernstein dropped their price target on shares of Norfolk Southern from $322.00 to $313.00 and set an "outperform" rating for the company in a research report on Tuesday, March 31st. Zacks Research upgraded Norfolk Southern from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. Finally, Evercore set a $325.00 target price on shares of Norfolk Southern in a report on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $320.35.

Norfolk Southern Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.