Palliser Capital UK Ltd acquired a new position in Norfolk Southern Corporation (NYSE:NSC – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 32,154 shares of the railroad operator’s stock, valued at approximately $10,115,000. Norfolk Southern comprises about 5.4% of Palliser Capital UK Ltd’s holdings, making the stock its 4th largest holding.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in Norfolk Southern by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock worth $6,012,836,000 after purchasing an additional 272,651 shares during the last quarter. BlackRock Inc. bought a new position in shares of Norfolk Southern during the 2nd quarter worth about $5,033,549,000. State Street Corp raised its position 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 valued at $2,803,630,000 after buying an additional 379,819 shares during the last quarter. Geode Capital Management LLC raised its position 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 valued at $1,401,797,000 after buying an additional 36,205 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Norfolk Southern in the fourth quarter valued at about $1,084,701,000. Institutional investors own 75.10% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on NSC shares. Evercore set a $358.00 target price on Norfolk Southern in a research report on Thursday, July 23rd. Weiss Ratings raised Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Royal Bank Of Canada lifted their price objective on Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Finally, Stephens upgraded Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $348.00.
Norfolk Southern Stock Up 0.6%
NSC opened at $352.91 on Tuesday. The firm has a market cap of $79.27 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 6.21 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. The firm’s 50-day simple moving average is $329.08 and its 200-day simple moving average is $313.85. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60.
Norfolk Southern (NYSE:NSC – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.29 earnings per share. Equities research analysts anticipate that Norfolk Southern Corporation will post 12.66 EPS for the current fiscal year.
Norfolk Southern Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were paid a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.5%. 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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