Empyrean Capital Partners LP Acquires 113,300 Shares of Norfolk Southern Corporation $NSC

Empyrean Capital Partners LP grew its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 55.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,100 shares of the railroad operator’s stock after buying an additional 113,300 shares during the quarter. Norfolk Southern makes up 3.0% of Empyrean Capital Partners LP’s portfolio, making the stock its 5th largest position. Empyrean Capital Partners LP’s holdings in Norfolk Southern were worth $91,008,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NSC. JPL Wealth Management LLC bought a new position in shares of Norfolk Southern in the 3rd quarter valued at about $25,000. BNP Paribas acquired a new position in Norfolk Southern during the second quarter valued at approximately $26,000. Meeder Asset Management Inc. boosted its position in Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after purchasing an additional 67 shares during the last quarter. Financial Life Planners bought a new position in Norfolk Southern in the first quarter valued at approximately $33,000. Finally, Bayban bought a new position in Norfolk Southern in the fourth quarter valued at approximately $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 2.2%

Norfolk Southern stock opened at $343.05 on Tuesday. The company’s 50-day moving average price is $317.84 and its two-hundred day moving average price is $306.66. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The stock has a market cap of $77.05 billion, a P/E ratio of 29.27, a P/E/G ratio of 6.32 and a beta of 1.27. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the previous year, the company posted $3.29 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. As a group, analysts expect that Norfolk Southern Corporation will post 12.42 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.

More Norfolk Southern News

Here are the key news stories impacting Norfolk Southern this week:

• Positive Sentiment: Norfolk Southern and Union Pacific submitted supplemental information to the Surface Transportation Board (STB), including expanded gateway-pricing commitments and customer protections. The companies said the measures are designed to support faster, more reliable service and address concerns about the proposed merger. The filing may improve the merger’s regulatory prospects, although STB approval remains outstanding. Union Pacific and Norfolk Southern merger customer assurances
• Positive Sentiment: BMO Capital Markets raised its Norfolk Southern price target to $355 from $310, while Robert W. Baird increased its target to $377 from $360. The higher targets suggest analysts see additional potential value, despite BMO retaining a “market perform” rating and Baird maintaining a “neutral” rating. Benzinga analyst price targets
• Neutral Sentiment: Reports citing JPMorgan, Wells Fargo and Citigroup analysts indicated expectations for Norfolk Southern shares to appreciate, while Barclays continued to rate the stock “buy.” These calls reinforce a generally constructive outlook but provide less immediate impact than a change in earnings or company guidance. JPMorgan analyst outlook Wells Fargo analyst outlook Citigroup analyst outlook Barclays rating
• Negative Sentiment: No new material negative operating or earnings update was reported. However, merger-related regulatory uncertainty remains a risk, and the stock’s elevated valuation means investors may require continued execution and progress toward approval to justify further gains.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barclays upped their price objective on Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday. Wolfe Research raised their target price on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. Wells Fargo & Company boosted their target price on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday. Sanford C. Bernstein dropped their price target on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Finally, Royal Bank Of Canada increased their price target on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday. Seven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $348.00.

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.