Norfolk Southern Corporation $NSC Stock Holdings Lifted by Carlson Capital L.P.

Key Points

• Carlson Capital increased its Norfolk Southern stake by 52.6% in the first quarter, purchasing 3,000 additional shares for a total holding valued at approximately $2.5 million. Institutional investors collectively own 75.1% of NSC.
• Analysts maintain a generally cautious outlook, with seven Buy ratings and 15 Hold ratings; the consensus price target is $348, compared with the stock’s $335.89 opening price.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in EPS and $3.46 billion in revenue, with revenue up 12.5% year over year. The company also declared a quarterly dividend of $1.35 per share, representing a 1.6% annualized yield.

Carlson Capital L.P. increased its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 52.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,700 shares of the railroad operator's stock after purchasing an additional 3,000 shares during the period. Norfolk Southern accounts for 0.8% of Carlson Capital L.P.'s portfolio, making the stock its 13th largest position. Carlson Capital L.P.'s holdings in Norfolk Southern were worth $2,497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of NSC. Vanguard Group Inc. raised its stake in Norfolk Southern by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator's stock valued at $6,012,836,000 after acquiring an additional 272,651 shares in the last quarter. State Street Corp raised its stake in shares of Norfolk Southern by 4.1% in the 4th quarter. State Street Corp now owns 9,710,549 shares of the railroad operator's stock worth $2,803,630,000 after buying an additional 379,819 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Norfolk Southern by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator's stock worth $1,401,797,000 after buying an additional 36,205 shares in the last quarter. Norges Bank bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $1,084,701,000. Finally, Pentwater Capital Management LP raised its holdings in shares of Norfolk Southern by 9.8% in the 4th quarter. Pentwater Capital Management LP now owns 3,019,000 shares of the railroad operator's stock worth $871,646,000 after purchasing an additional 269,000 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NSC has been the topic of several analyst reports. Wolfe Research lifted their target price on shares of Norfolk Southern from $350.00 to $355.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 7th. Wall Street Zen upgraded shares of Norfolk Southern from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Citigroup upped their target price on Norfolk Southern from $351.00 to $376.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Rothschild & Co Redburn raised their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Finally, Susquehanna upped their price objective on shares of Norfolk Southern from $337.00 to $360.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Seven research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $348.00.

Norfolk Southern Stock Up 0.6%

NSC opened at $335.89 on Friday. The firm has a market cap of $75.45 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 5.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. The business has a 50 day moving average price of $319.64 and a 200 day moving average price of $307.90. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the company posted $3.29 earnings per share. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. Research analysts forecast that Norfolk Southern Corporation will post 12.6 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be paid a $1.35 dividend. The ex-dividend date is Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. Norfolk Southern's dividend payout ratio (DPR) is presently 46.08%.

Norfolk Southern Company 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.

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