XY Capital Ltd Purchases New Holdings in Norfolk Southern Corporation $NSC

Key Points

• XY Capital Ltd. initiated an 8,000-share position in Norfolk Southern valued at approximately $2.52 million, making the railroad operator 2.4% of its portfolio. Institutional investors collectively own 75.1% of NSC.
• Analysts remain broadly cautious, with a consensus “Hold” rating and an average price target of $348, although Barclays raised its target to $400 and assigned an “overweight” rating.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in EPS and $3.46 billion in revenue, while revenue rose 12.5% year over year. The company also declared a quarterly dividend of $1.35 per share, equivalent to a 1.6% yield.

XY Capital Ltd purchased a new position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,000 shares of the railroad operator's stock, valued at approximately $2,517,000. Norfolk Southern comprises 2.4% of XY Capital Ltd's investment portfolio, making the stock its 12th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. E Fund Management Co. Ltd. acquired a new position in Norfolk Southern during the second quarter worth $258,000. Westport Asset Management Inc. acquired a new stake in Norfolk Southern in the second quarter valued at $1,888,000. Northcape Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the 2nd quarter worth $955,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Norfolk Southern during the 2nd quarter worth $26,000. Finally, Strathmore Capital Advisors Inc. acquired a new position in shares of Norfolk Southern during the 2nd quarter worth $293,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup increased their target price on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Barclays boosted their price target on Norfolk Southern from $360.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $316.00 to $338.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. UBS Group reiterated a "neutral" rating and set a $363.00 target price on shares of Norfolk Southern in a research report on Friday, July 24th. Finally, Evercore set a $358.00 price target on Norfolk Southern in a research note on Thursday, July 23rd. Seven analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $348.00.

Norfolk Southern Stock Performance

NYSE NSC opened at $347.15 on Friday. Norfolk Southern Corporation has a fifty-two week low of $268.23 and a fifty-two week high of $358.60. The stock has a market cap of $77.97 billion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 6.12 and a beta of 1.27. The business has a fifty day moving average of $327.49 and a 200-day moving average of $313.05. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.20. The company had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $3.29 EPS. As a group, analysts predict that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern's dividend payout ratio is 46.08%.

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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