Acadian Asset Management LLC boosted its position in Norfolk Southern Corp. (NYSE:NSC) by 695.9% during the second quarter, HoldingsChannel.com reports. The fund owned 2,905 shares of the railroad operator’s stock after buying an additional 2,540 shares during the quarter. Acadian Asset Management LLC’s holdings in Norfolk Southern were worth $438,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in NSC. Highlander Capital Management LLC bought a new stake in Norfolk Southern in the 1st quarter valued at about $106,000. NuWave Investment Management LLC bought a new stake in Norfolk Southern in the 1st quarter valued at about $124,000. Corbyn Investment Management Inc. MD bought a new stake in Norfolk Southern in the 1st quarter valued at about $130,000. Ostrum Asset Management bought a new stake in shares of Norfolk Southern during the first quarter valued at about $167,000. Finally, Private Ocean LLC increased its position in shares of Norfolk Southern by 106.6% during the first quarter. Private Ocean LLC now owns 1,386 shares of the railroad operator’s stock valued at $188,000 after buying an additional 715 shares during the period. Institutional investors and hedge funds own 73.24% of the company’s stock.

NSC stock opened at $171.12 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $48.15 billion, a P/E ratio of 25.89, a P/E/G ratio of 1.58 and a beta of 1.39. Norfolk Southern Corp. has a 1-year low of $116.77 and a 1-year high of $174.43.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, July 25th. The railroad operator reported $2.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.19. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.87 billion. Norfolk Southern had a net margin of 52.36% and a return on equity of 14.53%. Norfolk Southern’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.71 earnings per share. sell-side analysts predict that Norfolk Southern Corp. will post 9.06 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Monday, August 6th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.87%. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Friday, August 3rd. Norfolk Southern’s dividend payout ratio is 48.41%.

Several equities research analysts have recently weighed in on NSC shares. Morgan Stanley upped their price target on Norfolk Southern from $100.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday, April 26th. Scotiabank set a $175.00 price target on Norfolk Southern and gave the company a “buy” rating in a research report on Wednesday, July 25th. Sanford C. Bernstein upped their price target on Norfolk Southern from $149.00 to $155.00 and gave the company a “market perform” rating in a research report on Thursday, April 26th. Royal Bank of Canada reiterated a “hold” rating and set a $158.00 price target on shares of Norfolk Southern in a research report on Friday, July 13th. Finally, Credit Suisse Group upped their price target on Norfolk Southern from $155.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. Norfolk Southern presently has an average rating of “Hold” and an average target price of $159.72.

In related news, COO Michael Joseph Wheeler sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $151.33, for a total value of $302,660.00. Following the transaction, the chief operating officer now directly owns 10,207 shares in the company, valued at $1,544,625.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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