Russell Investments Group Ltd. Boosts Position in Norfolk Southern Corporation $NSC

Russell Investments Group Ltd. lifted its position in Norfolk Southern Corporation (NYSE:NSC) by 1.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 203,772 shares of the railroad operator’s stock after purchasing an additional 3,634 shares during the period. Russell Investments Group Ltd. owned 0.09% of Norfolk Southern worth $61,215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Norfolk Southern in the 2nd quarter worth approximately $613,255,000. Holocene Advisors LP increased its holdings in Norfolk Southern by 550.6% during the second quarter. Holocene Advisors LP now owns 983,366 shares of the railroad operator’s stock valued at $251,712,000 after buying an additional 832,210 shares during the period. TOMS Capital Investment Management LP purchased a new position in Norfolk Southern during the second quarter valued at approximately $181,995,000. Alpine Associates Management Inc. bought a new position in Norfolk Southern in the third quarter worth approximately $150,989,000. Finally, Assenagon Asset Management S.A. raised its stake in Norfolk Southern by 93.1% in the third quarter. Assenagon Asset Management S.A. now owns 952,544 shares of the railroad operator’s stock worth $286,154,000 after buying an additional 459,166 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $298.96 on Wednesday. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $319.94. The business’s fifty day simple moving average is $300.48 and its 200-day simple moving average is $291.87. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. The company has a market cap of $67.14 billion, a PE ratio of 23.45, a PEG ratio of 5.46 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter last year, the firm earned $3.04 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. Analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, February 6th. Norfolk Southern’s dividend payout ratio (DPR) is currently 42.35%.

Wall Street Analyst Weigh In

Several analysts have issued reports on NSC shares. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research report on Friday, January 30th. Royal Bank Of Canada reduced their price target on Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating for the company in a research report on Friday, January 30th. Robert W. Baird upped their price objective on Norfolk Southern from $288.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, March 6th. Morgan Stanley upgraded Norfolk Southern from an “equal weight” rating to a “buy” rating in a research note on Thursday, December 18th. Finally, Rothschild & Co Redburn boosted their target price on shares of Norfolk Southern from $299.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. Seven investment analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Hold” and a consensus price target of $308.95.

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.