Callan Family Office LLC acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC – Free Report) in the second quarter, Holdings Channel reports. The institutional investor acquired 25,369 shares of the railroad operator’s stock, valued at approximately $7,981,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of NSC. BlackRock Inc. purchased a new position in Norfolk Southern during the second quarter worth about $5,033,549,000. Norges Bank acquired a new stake in shares of Norfolk Southern during the fourth quarter valued at about $1,084,701,000. Pentwater Capital Management LP purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at approximately $826,128,000. Bank of New York Mellon Corp purchased a new stake in shares of Norfolk Southern in the 2nd quarter valued at approximately $364,414,000. Finally, Deutsche Bank AG acquired a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $356,558,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
NSC has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Evercore set a $358.00 target price on Norfolk Southern in a research report on Thursday, July 23rd. Susquehanna upped their price target on Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Barclays raised their price target on Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, Citigroup lifted their price objective on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Norfolk Southern currently has an average rating of “Hold” and an average price target of $348.00.
Norfolk Southern Stock Up 1.2%
Shares of NSC opened at $350.77 on Friday. The company’s 50-day simple moving average is $328.23 and its 200-day simple moving average is $313.31. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The stock has a market capitalization of $78.79 billion, a PE ratio of 29.93, a P/E/G ratio of 6.14 and a beta of 1.27.
Norfolk Southern (NYSE:NSC – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the previous year, the business posted $3.29 earnings per share. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. Analysts forecast that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.
Norfolk Southern Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.5%. Norfolk Southern’s dividend payout ratio is currently 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.
Featured Stories
- Five stocks we like better than Norfolk Southern
- Blueprint for a Boom: SEC Clears the Crypto Runway
- Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss
- Advance Auto Parts Plunged, But Its Turnaround Is Still Working
- Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?
Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corporation (NYSE:NSC – Free Report).
Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.
