Nykredit A S Takes Position in Norfolk Southern Corporation $NSC

Key Points

• Nykredit A/S purchased 25,406 shares of Norfolk Southern in the second quarter, worth approximately $7.99 million. Institutional investors collectively own 75.10% of the company.
• Analysts raised several price targets following the company’s results, but the overall consensus remains “Hold,” with an average target price of $352.38.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in earnings per share and $3.46 billion in revenue, while revenue rose 12.5% year over year. The company also maintains a quarterly dividend of $1.35 per share, yielding about 1.7%.

Nykredit A S bought a new stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,406 shares of the railroad operator's stock, valued at approximately $7,992,000.

A number of other large investors have also added to or reduced their stakes in NSC. Brown Lisle Cummings Inc. boosted its stake in shares of Norfolk Southern by 43.5% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 2,723 shares of the railroad operator's stock worth $857,000 after acquiring an additional 825 shares during the last quarter. Groupe la Francaise raised its stake in shares of Norfolk Southern by 7.5% in the second quarter. Groupe la Francaise now owns 1,479 shares of the railroad operator's stock worth $465,000 after buying an additional 103 shares during the period. Strategic Financial Services Inc. bought a new position in shares of Norfolk Southern in the second quarter worth about $204,000. Washington Trust Advisors Inc. lifted its position in shares of Norfolk Southern by 23.8% during the 2nd quarter. Washington Trust Advisors Inc. now owns 619 shares of the railroad operator's stock valued at $195,000 after buying an additional 119 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its stake in shares of Norfolk Southern by 119.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 3,303 shares of the railroad operator's stock valued at $1,039,000 after acquiring an additional 1,800 shares during the period. Institutional investors own 75.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Norfolk Southern from $316.00 to $338.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Barclays upped 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. Robert W. Baird lifted their target price on Norfolk Southern from $360.00 to $377.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Wells Fargo & Company upped their price target on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Finally, TD Cowen lifted their target price on Norfolk Southern from $337.00 to $376.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, Norfolk Southern has a consensus rating of "Hold" and an average target price of $352.38.

Norfolk Southern Stock Performance

Shares of NSC opened at $309.47 on Tuesday. The stock has a 50-day moving average of $335.16 and a two-hundred day moving average of $316.08. Norfolk Southern Corporation has a one year low of $277.80 and a one year high of $358.60. 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 stock has a market cap of $69.51 billion, a P/E ratio of 26.41, a P/E/G ratio of 4.67 and a beta of 1.27.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping analysts' consensus estimates of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the firm posted $3.29 earnings per share. The company's revenue was up 12.5% compared to the same quarter last year. As a group, research analysts predict that Norfolk Southern Corporation will post 12.87 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were paid 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, August 7th. Norfolk Southern's dividend payout ratio (DPR) is 46.08%.

Norfolk Southern Profile

Norfolk Southern Corporation is a major freight railroad company serving the eastern United States. Through its railway network, the company transports raw materials, intermediate goods and finished products for industrial, agricultural, manufacturing and consumer markets. Its operations connect customers with domestic markets, major ports and other rail carriers.

The company transports a diverse range of commodities, including intermodal containers, coal, automotive products, agriculture and consumer goods, chemicals, metals, forest products and construction materials.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corporation (NYSE:NSC - Free Report).

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.