Lakeview Capital Partners LLC lifted its position in Norfolk Southern Corp. (NYSE:NSC) by 4.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,081 shares of the railroad operator’s stock after purchasing an additional 90 shares during the quarter. Lakeview Capital Partners LLC’s holdings in Norfolk Southern were worth $374,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen Asset Management LLC raised its stake in Norfolk Southern by 4,303.6% during the second quarter. Nuveen Asset Management LLC now owns 1,491,367 shares of the railroad operator’s stock worth $297,275,000 after acquiring an additional 1,457,500 shares in the last quarter. Balyasny Asset Management LLC raised its stake in Norfolk Southern by 609.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 552,879 shares of the railroad operator’s stock valued at $110,205,000 after buying an additional 474,951 shares during the last quarter. Thoroughbred Financial Services LLC raised its stake in Norfolk Southern by 19,302.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 378,926 shares of the railroad operator’s stock valued at $37,893,000 after buying an additional 376,973 shares during the last quarter. Fisher Asset Management LLC raised its stake in Norfolk Southern by 5,312.9% during the 3rd quarter. Fisher Asset Management LLC now owns 348,863 shares of the railroad operator’s stock valued at $62,677,000 after buying an additional 342,418 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Norfolk Southern during the 2nd quarter valued at $64,623,000. Institutional investors and hedge funds own 72.95% of the company’s stock.
NSC has been the subject of a number of research reports. Wells Fargo & Co initiated coverage on shares of Norfolk Southern in a research note on Monday, October 28th. They set a “market perform” rating and a $216.00 target price for the company. Credit Suisse Group upped their price objective on Norfolk Southern from $198.00 to $199.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Zacks Investment Research upgraded Norfolk Southern from a “sell” rating to a “hold” rating and set a $182.00 price objective for the company in a research note on Friday, October 11th. TD Securities cut their price target on Norfolk Southern from $225.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, Barclays cut their price target on Norfolk Southern from $200.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Norfolk Southern has a consensus rating of “Hold” and a consensus target price of $204.29.
Shares of NYSE:NSC traded down $0.14 during trading on Friday, reaching $195.44. The company’s stock had a trading volume of 888,465 shares, compared to its average volume of 1,670,462. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73. Norfolk Southern Corp. has a 12 month low of $138.65 and a 12 month high of $211.46. The firm’s 50 day simple moving average is $181.90 and its two-hundred day simple moving average is $189.20. The stock has a market capitalization of $50.53 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 1.94 and a beta of 1.37.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, October 23rd. The railroad operator reported $2.49 EPS for the quarter, missing the Zacks’ consensus estimate of $2.57 by ($0.08). Norfolk Southern had a net margin of 23.98% and a return on equity of 18.22%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the previous year, the business posted $2.52 EPS. The firm’s revenue was down 3.6% on a year-over-year basis. Research analysts anticipate that Norfolk Southern Corp. will post 10.23 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 1st will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, October 31st. Norfolk Southern’s dividend payout ratio (DPR) is currently 39.54%.
Norfolk Southern Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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