Norfolk Southern Corporation $NSC Stock: Skylands Capital LLC Increases Position

Skylands Capital LLC lifted its stake in Norfolk Southern Corporation (NYSE:NSC) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,730 shares of the railroad operator’s stock after acquiring an additional 2,650 shares during the period. Norfolk Southern accounts for 2.3% of Skylands Capital LLC’s portfolio, making the stock its 8th largest position. Skylands Capital LLC’s holdings in Norfolk Southern were worth $17,839,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Norfolk Southern during the second quarter valued at about $5,033,549,000. Bank of America Corp DE bought a new position in Norfolk Southern in the second quarter worth about $978,977,000. Dimensional Fund Advisors LP raised its holdings in Norfolk Southern by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,259,558 shares of the railroad operator’s stock worth $648,429,000 after purchasing an additional 46,127 shares in the last quarter. Amundi lifted its position in shares of Norfolk Southern by 24.2% during the first quarter. Amundi now owns 2,226,885 shares of the railroad operator’s stock valued at $639,116,000 after buying an additional 434,074 shares during the last quarter. Finally, HBK Investments L P lifted its position in shares of Norfolk Southern by 0.8% during the second quarter. HBK Investments L P now owns 1,750,000 shares of the railroad operator’s stock valued at $550,532,000 after buying an additional 13,644 shares during the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $327.71 on Thursday. The company has a 50 day moving average price of $326.60 and a 200 day moving average price of $320.24. The firm has a market capitalization of $73.61 billion, a P/E ratio of 27.96, a PEG ratio of 4.85 and a beta of 1.29. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. Norfolk Southern Corporation has a 52 week low of $277.80 and a 52 week high of $358.60.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share 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 company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the firm earned $3.29 EPS. Norfolk Southern’s revenue was up 12.5% compared to the same quarter last year. Sell-side analysts expect that Norfolk Southern Corporation will post 12.81 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.08%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a report on Monday, July 27th. TD Cowen boosted their price objective on shares of Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Wells Fargo & Company increased their target price on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research note on Friday, July 24th. Finally, Royal Bank Of Canada lowered their target price on shares of Norfolk Southern from $360.00 to $330.00 and set a “sector perform” rating for the company in a research note on Thursday, September 24th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, Norfolk Southern has a consensus rating of “Hold” and an average target price of $346.94.

Norfolk Southern Company Profile

Norfolk Southern Corporation (NYSE:NSC) is a transportation company that operates one of the largest freight railroad networks in the eastern United States. Through its Norfolk Southern Railway subsidiary, the company provides rail transportation and related services across a broad territory spanning portions of the Midwest, South and East Coast, including access to major industrial centers, ports and distribution markets.

Norfolk Southern transports a diverse range of commodities, including intermodal freight, merchandise, automotive products, coal and other energy-related materials.