17,000 Shares in Norfolk Southern Corporation $NSC Purchased by Mint Tower Capital Management B.V.

Mint Tower Capital Management B.V. bought a new position in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 17,000 shares of the railroad operator’s stock, valued at approximately $5,348,000. Norfolk Southern comprises approximately 0.6% of Mint Tower Capital Management B.V.’s portfolio, making the stock its 20th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of NSC. Glenview Trust Co purchased a new stake in Norfolk Southern in the second quarter valued at approximately $11,491,000. North Star Asset Management Inc. bought a new position in shares of Norfolk Southern during the second quarter valued at about $1,148,000. Empowered Funds LLC purchased a new position in Norfolk Southern in the 2nd quarter worth approximately $5,466,000. United Capital Financial Advisors LLC purchased a new position in shares of Norfolk Southern in the second quarter worth $3,286,000. Finally, Dearborn Partners LLC bought a new position in shares of Norfolk Southern during the second quarter valued at about $972,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

NSC has been the subject of a number of recent analyst reports. Evercore set a $358.00 target price on Norfolk Southern in a report on Thursday, July 23rd. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Stephens raised shares of Norfolk Southern to a “hold” rating in a research note on Wednesday, July 8th. Susquehanna boosted their price target on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, Norfolk Southern presently has a consensus rating of “Hold” and an average price target of $348.00.

Norfolk Southern Stock Up 0.2%

NSC stock opened at $348.67 on Friday. Norfolk Southern Corporation has a twelve month low of $268.23 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 firm has a market cap of $78.31 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 5.22 and a beta of 1.27. The business has a 50 day moving average of $332.87 and a 200 day moving average of $315.01.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the company posted $3.29 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, research analysts forecast that Norfolk Southern Corporation will post 12.74 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

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.