DLD Asset Management LP Invests $7.20 Million in Norfolk Southern Corporation $NSC

DLD Asset Management LP acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 22,894 shares of the railroad operator’s stock, valued at approximately $7,202,000. Norfolk Southern comprises about 0.5% of DLD Asset Management LP’s investment portfolio, making the stock its 23rd largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new stake in shares of Norfolk Southern in the first quarter valued at approximately $3,272,000. O Shaughnessy Asset Management LLC grew its stake in shares of Norfolk Southern by 9.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after acquiring an additional 3,887 shares during the last quarter. SCS Capital Management LLC bought a new position in Norfolk Southern during the second quarter worth $13,837,000. B. Metzler seel. Sohn & Co. AG bought a new position in Norfolk Southern during the second quarter worth $3,669,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in Norfolk Southern during the 2nd quarter valued at $1,376,000. Institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NSC shares. 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 report on Friday, July 24th. Susquehanna boosted their price objective on shares of Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Stephens upgraded shares of Norfolk Southern to a “hold” rating in a research note on Wednesday, July 8th. Finally, Wells Fargo & Company lifted their target price on Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Stock Up 0.0%

Shares of NSC stock opened at $350.77 on Monday. The stock has a market cap of $78.79 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 6.21 and a beta of 1.27. Norfolk Southern Corporation has a one year low of $268.23 and a one year high of $358.60. The stock has a fifty day moving average price of $328.23 and a 200 day moving average price of $313.47. 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 (NYSE:NSC) last posted its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.29 earnings per share. Analysts predict that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, August 7th. Norfolk Southern’s payout ratio is 46.08%.

Norfolk Southern Company 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.