Quantbot Technologies LP Acquires New Position in Norfolk Southern Corporation $NSC

Key Points

• Quantbot Technologies LP acquired 10,632 Norfolk Southern shares worth approximately $3.35 million in the second quarter. Institutional investors collectively own 75.1% of the railroad operator.
• Norfolk Southern reported quarterly EPS of $3.52, beating estimates by $0.20, while revenue rose 12.5% year over year to $3.46 billion.
• The company pays a quarterly dividend of $1.35, equivalent to $5.40 annually and a 1.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $348.

Quantbot Technologies LP bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 10,632 shares of the railroad operator's stock, valued at approximately $3,345,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Norfolk Southern by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator's stock valued at $6,012,836,000 after buying an additional 272,651 shares in the last quarter. BlackRock Inc. purchased a new position in Norfolk Southern in the second quarter worth $5,033,549,000. State Street Corp lifted its holdings in Norfolk Southern by 4.1% in the fourth quarter. State Street Corp now owns 9,710,549 shares of the railroad operator's stock valued at $2,803,630,000 after acquiring an additional 379,819 shares during the period. Geode Capital Management LLC boosted its position in shares of Norfolk Southern by 0.7% during 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 purchasing an additional 36,205 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Norfolk Southern during the 4th quarter worth $1,084,701,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $350.77 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The company's 50-day moving average price is $328.23 and its 200 day moving average price is $313.47. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60. The stock has a market cap of $78.79 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 6.21 and a beta of 1.27.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) 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 company had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.38 billion. During the same quarter in the previous year, the business posted $3.29 earnings per share. The firm's quarterly revenue was up 12.5% compared to the same quarter last year. As a group, research analysts forecast that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were paid 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 dividend payout ratio is presently 46.08%.

Analysts Set New Price Targets

NSC has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. UBS Group reiterated a "neutral" rating and set a $363.00 price target on shares of Norfolk Southern in a research report on Friday, July 24th. BMO Capital Markets boosted their price target on Norfolk Southern from $310.00 to $355.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Evercore set a $358.00 price target on Norfolk Southern in a report on Thursday, July 23rd. Finally, Robert W. Baird raised their price objective on Norfolk Southern from $360.00 to $377.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target 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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