Coastal Bridge Advisors LLC Purchases New Stake in Norfolk Southern Corporation $NSC

Coastal Bridge Advisors LLC acquired a new position in Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,869 shares of the railroad operator’s stock, valued at approximately $588,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new position in shares of Norfolk Southern in the 1st quarter valued at about $3,272,000. O Shaughnessy Asset Management LLC grew its holdings in Norfolk Southern by 9.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after acquiring an additional 3,887 shares during the period. B. Metzler seel. Sohn & Co. AG purchased a new position in Norfolk Southern during the second quarter valued at approximately $3,669,000. SCS Capital Management LLC purchased a new position in Norfolk Southern during the second quarter valued at approximately $13,837,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in Norfolk Southern in the second quarter valued at approximately $1,376,000. 75.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NSC shares. Wall Street Zen upgraded Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Stephens upgraded shares of Norfolk Southern to a “hold” rating in a research note on Wednesday, July 8th. Weiss Ratings raised shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. Susquehanna raised their price target on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Finally, TD Cowen lifted their price objective on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $348.00.

Norfolk Southern Stock Up 0.2%

Norfolk Southern stock opened at $348.67 on Friday. The stock has a market capitalization of $78.31 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 5.22 and a beta of 1.27. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The business has a 50 day simple moving average of $332.87 and a 200-day simple moving average of $315.01. 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 announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the company posted $3.29 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. On average, analysts anticipate that Norfolk Southern Corporation will post 12.74 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

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

Norfolk Southern Company 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.