Hilton Head Capital Partners LLC bought a new position in Norfolk Southern Corporation (NYSE:NSC – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,824 shares of the railroad operator’s stock, valued at approximately $1,104,000.
A number of other institutional investors also recently modified their holdings of the stock. Picton Mahoney Asset Management bought a new stake in Norfolk Southern in the third quarter valued at approximately $24,033,000. Primecap Management Co. CA increased its stake in Norfolk Southern by 7.9% in the third quarter. Primecap Management Co. CA now owns 1,132,583 shares of the railroad operator’s stock valued at $340,239,000 after purchasing an additional 82,500 shares in the last quarter. Azzad Asset Management Inc. ADV bought a new stake in Norfolk Southern in the third quarter valued at approximately $1,550,000. NEOS Investment Management LLC boosted its holdings in shares of Norfolk Southern by 47.0% in the third quarter. NEOS Investment Management LLC now owns 25,298 shares of the railroad operator’s stock valued at $7,600,000 after buying an additional 8,090 shares during the period. Finally, Elo Mutual Pension Insurance Co increased its position in shares of Norfolk Southern by 11.7% during the third quarter. Elo Mutual Pension Insurance Co now owns 15,143 shares of the railroad operator’s stock worth $4,549,000 after acquiring an additional 1,587 shares in the last quarter. 75.10% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several brokerages have recently issued reports on NSC. JPMorgan Chase & Co. lowered their price objective on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. TD Cowen increased their price objective on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Robert W. Baird increased their price objective on shares of Norfolk Southern from $315.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Wolfe Research increased their price objective on shares of Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada increased their price objective on shares of Norfolk Southern from $310.00 to $360.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Six analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $322.71.
Norfolk Southern Stock Performance
Shares of NSC opened at $313.88 on Monday. Norfolk Southern Corporation has a 12 month low of $247.85 and a 12 month high of $326.00. The firm has a fifty day simple moving average of $305.69 and a 200 day simple moving average of $299.20. The stock has a market capitalization of $70.49 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 5.79 and a beta of 1.27. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.
Norfolk Southern (NYSE:NSC – Get Free Report) last announced its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the company posted $2.69 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. Research analysts forecast that Norfolk Southern Corporation will post 12.11 EPS for the current fiscal year.
Norfolk Southern Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a dividend of $1.35 per share. The ex-dividend date was Friday, May 8th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern’s dividend payout ratio is presently 45.49%.
About Norfolk Southern
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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