Vazirani Asset Management LLC Makes New Investment in Norfolk Southern Corporation $NSC

Vazirani Asset Management LLC purchased a new position in shares of Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,000 shares of the railroad operator’s stock, valued at approximately $1,572,950. Norfolk Southern comprises about 0.0% of Vazirani Asset Management LLC’s investment portfolio, making the stock its 5th largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of NSC. JPL Wealth Management LLC acquired a new position in Norfolk Southern during the third quarter worth about $25,000. Edmond DE Rothschild Holding S.A. bought a new stake in Norfolk Southern during the second quarter worth approximately $26,000. BNP Paribas acquired a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. bought a new position in shares of Norfolk Southern in the 2nd quarter valued at about $27,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Norfolk Southern during the 2nd quarter worth approximately $31,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Up 0.2%

NSC stock traded up $0.74 during trading hours on Friday, reaching $348.67. 980,255 shares of the stock were exchanged, compared to its average volume of 1,225,109. The firm’s 50-day moving average is $331.90 and its 200-day moving average is $314.78. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The company has a market cap of $78.31 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 5.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the business earned $3.29 earnings per share. Norfolk Southern’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities research analysts expect that Norfolk Southern Corporation will post 12.74 earnings per share for the current 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 issued 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 payout ratio is 46.08%.

Analyst Ratings Changes

Several analysts have recently commented on NSC shares. TD Cowen raised their price objective on shares of Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Evercore set a $358.00 price target on shares of Norfolk Southern in a report on Thursday, July 23rd. Stephens raised shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Finally, Royal Bank Of Canada boosted their price objective on Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. 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 MarketBeat.com, the company currently 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.