SCS Capital Management LLC Acquires New Position in Norfolk Southern Corporation $NSC

SCS Capital Management LLC bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 43,986 shares of the railroad operator’s stock, valued at approximately $13,837,000.

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

Norfolk Southern Stock Performance

NYSE:NSC opened at $334.69 on Monday. 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 50-day moving average price of $324.87 and a two-hundred day moving average price of $311.52. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60. The company has a market capitalization of $75.17 billion, a P/E ratio of 28.56, a price-to-earnings-growth ratio of 5.92 and a beta of 1.27.

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

Norfolk Southern Announces Dividend

The business 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 of this dividend 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 is presently 46.08%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NSC. Evercore set a $358.00 price objective on shares of Norfolk Southern in a report on Thursday, July 23rd. Citigroup increased their target price on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Royal Bank Of Canada boosted their price target on Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Finally, Benchmark restated a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $348.00.

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.