Commerzbank Aktiengesellschaft FI Takes $1.06 Million Position in Norfolk Southern Corporation $NSC

Commerzbank Aktiengesellschaft FI purchased a new position in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,384 shares of the railroad operator’s stock, valued at approximately $1,065,000.

Several other hedge funds and other institutional investors have also modified their holdings of NSC. Norges Bank acquired a new stake in Norfolk Southern during the fourth quarter valued at $1,084,701,000. Pentwater Capital Management LP purchased a new stake in shares of Norfolk Southern during the 3rd quarter worth about $826,128,000. Bank of New York Mellon Corp acquired a new stake in shares of Norfolk Southern during the 2nd quarter valued at about $364,414,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Norfolk Southern by 545.2% in 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 valued at $392,396,000 after buying an additional 1,103,748 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Norfolk Southern in the third quarter worth approximately $329,629,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NSC has been the topic of several analyst reports. UBS Group restated a “neutral” rating and set a $363.00 price target on shares of Norfolk Southern in a research note on Friday, July 24th. Rothschild & Co Redburn lifted their price objective on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Stephens upgraded shares of Norfolk Southern to a “hold” rating in a report on Wednesday, July 8th. Citigroup increased their target price on shares of Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, Benchmark restated a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $348.00.

Norfolk Southern Stock Down 0.5%

Shares of Norfolk Southern stock opened at $339.44 on Wednesday. Norfolk Southern Corporation has a 12-month low of $268.23 and a 12-month high of $358.60. 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 50 day moving average price of $326.03 and a two-hundred day moving average price of $312.27. The stock has a market capitalization of $76.24 billion, a P/E ratio of 28.96, a PEG ratio of 5.92 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the firm posted $3.29 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities analysts expect that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Dividend Announcement

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