19,700 Shares in Norfolk Southern Corporation $NSC Acquired by P Schoenfeld Asset Management LP

P Schoenfeld Asset Management LP purchased a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,700 shares of the railroad operator’s stock, valued at approximately $6,197,423. Norfolk Southern accounts for about 0.0% of P Schoenfeld Asset Management LP’s investment portfolio, making the stock its 14th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in NSC. BlackRock Inc. bought a new stake in shares of Norfolk Southern during the second quarter worth $5,033,549,000. Norges Bank acquired a new position in shares of Norfolk Southern during the fourth quarter worth approximately $1,084,701,000. Pentwater Capital Management LP bought a new stake in shares of Norfolk Southern in the third quarter valued at $826,128,000. Bank of New York Mellon Corp purchased a new position in Norfolk Southern in the second quarter worth $364,414,000. Finally, Deutsche Bank AG bought a new stake in Norfolk Southern in the second quarter valued at $356,558,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.4%

Shares of NYSE:NSC traded up $1.22 on Friday, hitting $349.15. The company had a trading volume of 268,456 shares, compared to its average volume of 1,223,871. The firm has a market capitalization of $78.42 billion, a price-to-earnings ratio of 29.79, a P/E/G ratio of 5.29 and a beta of 1.27. The firm’s 50-day simple moving average is $331.90 and its two-hundred day simple moving average is $314.78. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping the consensus estimate of $3.32 by $0.20. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $3.29 earnings per share. Equities analysts anticipate that Norfolk Southern Corporation will post 12.74 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.08%.

Analyst Ratings Changes

NSC has been the subject of several recent analyst reports. UBS Group reaffirmed a “neutral” rating and set a $363.00 price objective on shares of Norfolk Southern in a research note on Friday, July 24th. Barclays increased their price target on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. BMO Capital Markets boosted their target price on shares of Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Susquehanna raised their price objective 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. Finally, Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $348.00.

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.