Vazirani Asset Management LLC Makes New $1.57 Billion Investment in Norfolk Southern Corporation $NSC

Vazirani Asset Management LLC bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,000 shares of the railroad operator’s stock, valued at approximately $1,572,950,000. Norfolk Southern makes up 7.7% of Vazirani Asset Management LLC’s investment portfolio, making the stock its 5th largest position.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC increased its stake in shares of Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after buying an additional 79 shares during the period. Intech Investment Management LLC lifted its stake in shares of Norfolk Southern by 40.4% during the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after acquiring an additional 1,855 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Norfolk Southern during the second quarter valued at $327,000. Schnieders Capital Management LLC. boosted its holdings in Norfolk Southern by 64.1% in the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock valued at $1,094,000 after acquiring an additional 1,670 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in Norfolk Southern by 185.1% in the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock valued at $1,174,000 after acquiring an additional 2,979 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Susquehanna lifted their price objective on Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Rothschild & Co Redburn upped their target price on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada lifted their price target on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. Barclays lifted their price target on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, Robert W. Baird increased their price objective on shares of Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, Norfolk Southern has a consensus rating of “Hold” and an average price target of $348.00.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $352.60 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $79.20 billion, a P/E ratio of 30.09, a PEG ratio of 6.18 and a beta of 1.27. The business has a 50-day moving average of $330.95 and a 200-day moving average of $314.49. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share 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 business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the company posted $3.29 EPS. Norfolk Southern’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities analysts anticipate that Norfolk Southern Corporation will post 12.74 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 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.