Norfolk Southern Corporation $NSC Shares Sold by DLD Asset Management LP

DLD Asset Management LP lowered its stake in Norfolk Southern Corporation (NYSE:NSC) by 31.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,379 shares of the railroad operator’s stock after selling 3,810 shares during the period. DLD Asset Management LP’s holdings in Norfolk Southern were worth $2,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Cetera Investment Advisers lifted its stake in Norfolk Southern by 1.6% in the first quarter. Cetera Investment Advisers now owns 80,483 shares of the railroad operator’s stock worth $23,099,000 after acquiring an additional 1,254 shares during the last quarter. Dynamic Wealth Strategies LLC purchased a new stake in shares of Norfolk Southern in the 1st quarter valued at approximately $41,000. First Citizens Bank & Trust Co. increased its position in shares of Norfolk Southern by 309.0% in the 1st quarter. First Citizens Bank & Trust Co. now owns 13,158 shares of the railroad operator’s stock valued at $3,776,000 after purchasing an additional 9,941 shares during the last quarter. Marin Bay Wealth Advisors LLC raised its holdings in shares of Norfolk Southern by 177.0% in the 1st quarter. Marin Bay Wealth Advisors LLC now owns 1,953 shares of the railroad operator’s stock valued at $561,000 after purchasing an additional 1,248 shares in the last quarter. Finally, XY Capital Ltd acquired a new stake in shares of Norfolk Southern in the 1st quarter valued at $2,296,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

NSC has been the subject of a number of analyst reports. Susquehanna boosted their target price on shares of Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Rothschild & Co Redburn raised their price target on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. UBS Group set a $327.00 price target on Norfolk Southern in a report on Thursday, May 7th. Barclays upped their price objective on Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, Robert W. Baird increased their price objective on Norfolk Southern from $330.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $329.35.

Norfolk Southern Trading Up 0.1%

NYSE NSC opened at $331.52 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The firm’s fifty day moving average price is $316.07 and its 200 day moving average price is $305.42. The company has a market capitalization of $74.46 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 6.06 and a beta of 1.27. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $342.53.

Norfolk Southern (NYSE:NSC) last announced its quarterly 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 firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the business earned $2.69 EPS. Norfolk Southern’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts expect that Norfolk Southern Corporation will post 12.24 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern’s 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.