Newbrook Capital Advisors LP Acquires New Shares in Norfolk Southern Co. (NYSE:NSC)

Newbrook Capital Advisors LP acquired a new position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 118,343 shares of the railroad operator's stock, valued at approximately $27,775,000. Norfolk Southern makes up 3.6% of Newbrook Capital Advisors LP's portfolio, making the stock its 13th biggest position. Newbrook Capital Advisors LP owned about 0.05% of Norfolk Southern as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NSC. Norges Bank purchased a new position in Norfolk Southern in the 4th quarter worth $547,575,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Norfolk Southern by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator's stock worth $2,020,318,000 after purchasing an additional 918,559 shares during the period. Boston Partners boosted its position in Norfolk Southern by 16.9% in the fourth quarter. Boston Partners now owns 4,020,392 shares of the railroad operator's stock valued at $945,385,000 after buying an additional 580,293 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Norfolk Southern by 293.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator's stock worth $157,643,000 after buying an additional 501,053 shares during the period. Finally, Amundi raised its holdings in shares of Norfolk Southern by 56.4% during the fourth quarter. Amundi now owns 1,302,635 shares of the railroad operator's stock worth $308,607,000 after purchasing an additional 469,558 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 0.7%

Shares of NYSE:NSC traded down $1.68 during trading on Monday, hitting $244.43. 242,684 shares of the company were exchanged, compared to its average volume of 1,204,450. The firm's 50 day moving average price is $226.19 and its 200-day moving average price is $242.41. Norfolk Southern Co. has a 12-month low of $201.63 and a 12-month high of $277.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The stock has a market capitalization of $55.10 billion, a P/E ratio of 21.14, a PEG ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The firm had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the previous year, the business posted $2.49 EPS. The business's revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Friday, May 2nd. Norfolk Southern's dividend payout ratio is currently 36.89%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NSC. Stifel Nicolaus decreased their price objective on Norfolk Southern from $265.00 to $247.00 and set a "hold" rating for the company in a report on Monday, April 14th. Wells Fargo & Company lowered their price target on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They issued a "buy" rating and a $293.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Finally, Susquehanna dropped their price objective on Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $266.50.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.