Tidal Investments LLC Has $9.21 Million Position in Norfolk Southern Corporation $NSC

Tidal Investments LLC boosted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 7.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 29,274 shares of the railroad operator’s stock after buying an additional 1,990 shares during the period. Tidal Investments LLC’s holdings in Norfolk Southern were worth $9,209,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on NSC shares. Robert W. Baird upped their target price on shares of Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Citigroup lifted their price target on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. UBS Group restated a “neutral” rating and set a $363.00 price objective on shares of Norfolk Southern in a report on Friday, July 24th. Finally, Royal Bank Of Canada boosted their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Norfolk Southern has an average rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Stock Down 0.8%

NSC stock opened at $320.78 on Friday. Norfolk Southern Corporation has a twelve month low of $273.76 and a twelve 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 business has a 50 day moving average price of $336.01 and a two-hundred day moving average price of $315.99. The company has a market cap of $72.05 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 4.76 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.29 earnings per share. Analysts anticipate that Norfolk Southern Corporation will post 12.87 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s payout ratio is presently 46.08%.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major freight railroad company serving the eastern United States. Through its railway network, the company transports raw materials, intermediate goods and finished products for industrial, agricultural, manufacturing and consumer markets. Its operations connect customers with domestic markets, major ports and other rail carriers.

The company transports a diverse range of commodities, including intermodal containers, coal, automotive products, agriculture and consumer goods, chemicals, metals, forest products and construction materials.