Aristotle Atlantic Partners LLC Has $55.25 Million Stock Position in Norfolk Southern Corporation $NSC

Aristotle Atlantic Partners LLC lowered its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 3.0% in the third quarter, HoldingsChannel reports. The fund owned 183,923 shares of the railroad operator’s stock after selling 5,729 shares during the period. Norfolk Southern accounts for approximately 1.6% of Aristotle Atlantic Partners LLC’s investment portfolio, making the stock its 17th largest holding. Aristotle Atlantic Partners LLC’s holdings in Norfolk Southern were worth $55,252,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in NSC. Norges Bank bought a new position in Norfolk Southern in the second quarter valued at about $613,255,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Norfolk Southern by 545.2% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock worth $392,396,000 after purchasing an additional 1,103,748 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Norfolk Southern during the 3rd quarter worth about $329,629,000. Holocene Advisors LP lifted its position in Norfolk Southern by 550.6% during the 2nd quarter. Holocene Advisors LP now owns 983,366 shares of the railroad operator’s stock valued at $251,712,000 after purchasing an additional 832,210 shares during the period. Finally, TOMS Capital Investment Management LP acquired a new position in Norfolk Southern during the 2nd quarter valued at about $181,995,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 0.7%

NYSE:NSC opened at $289.25 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The business’s 50-day simple moving average is $300.74 and its 200-day simple moving average is $292.10. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $319.94. The stock has a market capitalization of $64.96 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 5.22 and a beta of 1.31.

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

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, February 6th. Norfolk Southern’s dividend payout ratio is 42.35%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Rothschild & Co Redburn raised their price objective on shares of Norfolk Southern from $299.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, March 4th. Jefferies Financial Group lifted their target price on shares of Norfolk Southern from $300.00 to $350.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. Robert W. Baird increased their price target on Norfolk Southern from $288.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, March 6th. Finally, Benchmark restated a “hold” rating on shares of Norfolk Southern in a research report on Friday, January 30th. Eight analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. Based on data from MarketBeat, Norfolk Southern has an average rating of “Hold” and an average 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.