Two Sigma Securities LLC Has $433,000 Position in Norfolk Southern Corporation $NSC

Key Points

• Two Sigma Securities cut its Norfolk Southern stake by 91.5% in the second quarter, selling 14,834 shares and retaining 1,376 shares valued at approximately $433,000. Institutional investors collectively own 75.1% of the company.
• Analysts maintain a generally cautious outlook, with seven Buy ratings and 15 Hold ratings. The consensus rating is Hold, with an average price target of $348.
• Norfolk Southern reported quarterly adjusted earnings of $3.52 per share, exceeding estimates of $3.32, while revenue rose 12.5% year over year to $3.46 billion. The company also declared a quarterly dividend of $1.35 per share, representing a 1.6% annualized yield.

Two Sigma Securities LLC cut its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 91.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,376 shares of the railroad operator's stock after selling 14,834 shares during the quarter. Two Sigma Securities LLC's holdings in Norfolk Southern were worth $433,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NSC. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Norfolk Southern during the second quarter worth $26,000. JPL Wealth Management LLC acquired a new stake in Norfolk Southern in the 3rd quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in Norfolk Southern in the 2nd quarter valued at about $27,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Norfolk Southern during the 2nd quarter worth approximately $31,000. Finally, Kimelman & Baird LLC bought a new position in shares of Norfolk Southern during the second quarter worth approximately $31,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NSC. Evercore set a $358.00 price target on Norfolk Southern in a research report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price objective on Norfolk Southern from $316.00 to $338.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Citigroup upped their target price on Norfolk Southern from $351.00 to $376.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Wells Fargo & Company increased their target price on Norfolk Southern from $365.00 to $385.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. Finally, Robert W. Baird raised their price target on Norfolk Southern from $360.00 to $377.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $348.00.

Norfolk Southern Stock Performance

NYSE NSC opened at $330.54 on Thursday. 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 firm has a market capitalization of $74.24 billion, a price-to-earnings ratio of 28.20, a P/E/G ratio of 5.00 and a beta of 1.27. The firm's 50 day simple moving average is $334.78 and its 200 day simple moving average is $315.48. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data 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 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 period in the previous year, the business earned $3.29 earnings per share. The company's revenue was up 12.5% on a year-over-year basis. As a group, research analysts expect that Norfolk Southern Corporation will post 12.74 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. Norfolk Southern's payout ratio is 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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