P Schoenfeld Asset Management LP lifted its position in Norfolk Southern Corporation (NYSE:NSC – Free Report) by 228.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 64,700 shares of the railroad operator’s stock after purchasing an additional 45,000 shares during the quarter. Norfolk Southern makes up 6.6% of P Schoenfeld Asset Management LP’s holdings, making the stock its 3rd biggest holding. P Schoenfeld Asset Management LP’s holdings in Norfolk Southern were worth $18,680,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Norfolk Southern by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock worth $6,012,836,000 after buying an additional 272,651 shares in the last quarter. State Street Corp raised its stake in shares of Norfolk Southern by 4.1% during the fourth quarter. State Street Corp now owns 9,710,549 shares of the railroad operator’s stock worth $2,803,630,000 after acquiring an additional 379,819 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Norfolk Southern by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock worth $1,401,797,000 after acquiring an additional 36,205 shares in the last quarter. Norges Bank bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $1,084,701,000. Finally, Pentwater Capital Management LP bought a new stake in shares of Norfolk Southern in the 3rd quarter worth approximately $826,128,000. 75.10% of the stock is currently owned by institutional investors.
Norfolk Southern Stock Up 0.0%
Shares of Norfolk Southern stock opened at $314.05 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. Norfolk Southern Corporation has a 52-week low of $247.85 and a 52-week high of $326.00. The company’s 50 day moving average price is $308.35 and its 200-day moving average price is $300.20. The stock has a market capitalization of $70.53 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 5.79 and a beta of 1.27.
Norfolk Southern Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio is 45.49%.
Wall Street Analysts Forecast Growth
NSC has been the topic of several recent research reports. BMO Capital Markets increased their target price on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a report on Monday, April 27th. Argus raised shares of Norfolk Southern to a “hold” rating in a research note on Wednesday, February 25th. TD Cowen upped their price target on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Citigroup reaffirmed a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Finally, Royal Bank Of Canada lifted their price objective on Norfolk Southern from $310.00 to $360.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Six analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern presently has an average rating of “Hold” and an average target price of $322.71.
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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