Norfolk Southern Corporation $NSC Shares Bought by Governors Lane LP

Governors Lane LP raised its stake in Norfolk Southern Corporation (NYSE:NSC) by 2.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 234,843 shares of the railroad operator’s stock after acquiring an additional 5,509 shares during the period. Norfolk Southern accounts for 5.5% of Governors Lane LP’s portfolio, making the stock its 2nd biggest position. Governors Lane LP’s holdings in Norfolk Southern were worth $73,879,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NSC. Louisiana State Employees Retirement System acquired a new stake in Norfolk Southern in the first quarter valued at about $3,272,000. O Shaughnessy Asset Management LLC increased its position in Norfolk Southern by 9.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after purchasing an additional 3,887 shares during the period. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at approximately $3,669,000. SCS Capital Management LLC acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at approximately $13,837,000. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in shares of Norfolk Southern during the second quarter valued at $1,376,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 0.5%

NYSE NSC opened at $327.94 on Wednesday. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The company has a 50-day moving average of $335.96 and a 200-day moving average of $315.84. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The company has a market cap of $73.66 billion, a P/E ratio of 27.98, a P/E/G ratio of 4.89 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last released its 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. 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 analysts’ expectations of $3.38 billion. During the same period last year, the company earned $3.29 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, equities analysts predict that Norfolk Southern Corporation will post 12.87 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. Norfolk Southern’s payout ratio is currently 46.08%.

Wall Street Analyst Weigh In

A number of research firms recently commented on NSC. Robert W. Baird lifted their price objective on Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Stephens raised shares of Norfolk Southern to a “hold” rating in a research note on Wednesday, July 8th. Wells Fargo & Company lifted their price target on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Barclays boosted their price objective on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $348.00.

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.