North Star Asset Management Inc. Takes Position in Norfolk Southern Corporation $NSC

Key Points

• North Star Asset Management opened a new position in Norfolk Southern by purchasing 3,649 shares valued at approximately $1.15 million. Institutional investors collectively own 75.1% of the company.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in EPS versus the $3.32 consensus and revenue of $3.46 billion, up 12.5% year over year. The company also pays a $1.35 quarterly dividend, equivalent to a 1.5% annual yield.
• NSC shares recently traded near $348.67, close to the analyst consensus target of $348.00. Wall Street’s overall rating remains “Hold,” with seven Buy ratings and fifteen Hold ratings.

North Star Asset Management Inc. bought a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 3,649 shares of the railroad operator's stock, valued at approximately $1,148,000.

Several other large investors also recently bought and sold shares of NSC. Brighton Jones LLC raised its holdings in shares of Norfolk Southern by 4.9% in the fourth 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 lifted its stake in shares of Norfolk Southern by 40.4% during the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock worth $1,527,000 after buying an additional 1,855 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Norfolk Southern during the second quarter valued at $327,000. Schnieders Capital Management LLC. increased its position in shares of Norfolk Southern by 64.1% in the 2nd 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 during the period. Finally, Jump Financial LLC increased its position in shares of Norfolk Southern by 185.1% in the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator's stock valued at $1,174,000 after acquiring an additional 2,979 shares during the period. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Price Performance

NYSE:NSC opened at $348.67 on Friday. The firm's fifty day moving average is $332.87 and its two-hundred day moving average is $315.01. The firm has a market cap of $78.31 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 5.22 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. Norfolk Southern Corporation has a one year low of $268.23 and a one year high of $358.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating analysts' consensus estimates of $3.32 by $0.20. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company's revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $3.29 EPS. Research analysts expect that Norfolk Southern Corporation will post 12.74 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.5%. Norfolk Southern's payout ratio is presently 46.08%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NSC. Evercore set a $358.00 price target on Norfolk Southern in a research report on Thursday, July 23rd. BMO Capital Markets increased their price objective on Norfolk Southern from $310.00 to $355.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Benchmark restated a "hold" rating on shares of Norfolk Southern in a research note on Friday, July 24th. Royal Bank Of Canada lifted their target price on Norfolk Southern from $320.00 to $360.00 and gave the stock a "sector perform" rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on Norfolk Southern from $316.00 to $338.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $348.00.

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.

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