Nykredit A S Takes $8.44 Million Position in Norfolk Southern Corporation $NSC

Nykredit A S purchased a new position in shares of Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 26,837 shares of the railroad operator’s stock, valued at approximately $8,443,000.

A number of other hedge funds also recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. bought a new position in Norfolk Southern during the second quarter valued at $26,000. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern during the 3rd quarter valued at $25,000. Meeder Asset Management Inc. purchased a new position in shares of Norfolk Southern during the 2nd quarter valued at $27,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Norfolk Southern during the 2nd quarter worth $31,000. Finally, Kimelman & Baird LLC purchased a new stake in Norfolk Southern in the 2nd quarter worth about $31,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

NSC has been the topic of a number of research reports. Citigroup boosted their price objective on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. UBS Group reiterated a “neutral” rating and issued a $363.00 target price on shares of Norfolk Southern in a research note on Friday, July 24th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Weiss Ratings upgraded shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. Finally, Barclays lifted their price objective on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern Stock Up 0.4%

Shares of NYSE:NSC opened at $329.07 on Friday. The firm has a fifty day moving average price of $335.43 and a two-hundred day moving average price of $315.67. The company has a market cap of $73.91 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 4.89 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 Corporation has a one year low of $268.23 and a one year high of $358.60.

Norfolk Southern (NYSE:NSC) last released its quarterly 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 net margin of 21.02% and a return on equity of 18.21%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the firm posted $3.29 earnings per share. The business’s quarterly revenue was up 12.5% on a year-over-year basis. Analysts anticipate that Norfolk Southern Corporation will post 12.87 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 7th. Norfolk Southern’s dividend payout ratio is currently 46.08%.

Norfolk Southern 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.