3,394 Shares in Norfolk Southern Corporation $NSC Bought by DLD Asset Management LP

DLD Asset Management LP acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the third quarter, Holdings Channel reports. The fund acquired 3,394 shares of the railroad operator’s stock, valued at approximately $1,020,000.

Several other hedge funds also recently added to or reduced their stakes in NSC. Norges Bank bought a new stake in shares of Norfolk Southern in the 2nd quarter worth about $613,255,000. Holocene Advisors LP lifted its position in shares of Norfolk Southern by 550.6% during the second quarter. Holocene Advisors LP now owns 983,366 shares of the railroad operator’s stock worth $251,712,000 after purchasing an additional 832,210 shares during the last quarter. TOMS Capital Investment Management LP acquired a new position in Norfolk Southern in the second quarter worth about $181,995,000. Alpine Associates Management Inc. bought a new stake in Norfolk Southern in the third quarter valued at about $150,989,000. Finally, Assenagon Asset Management S.A. increased its holdings in Norfolk Southern by 93.1% in the third quarter. Assenagon Asset Management S.A. now owns 952,544 shares of the railroad operator’s stock valued at $286,154,000 after buying an additional 459,166 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $303.02 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The firm has a market capitalization of $68.05 billion, a PE ratio of 23.77, a P/E/G ratio of 5.47 and a beta of 1.31. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $319.94. The business’s fifty day moving average price is $300.10 and its two-hundred day moving average price is $291.64.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.46. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.04 earnings per share. On average, research analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were given a $1.35 dividend. The ex-dividend date was Friday, February 6th. This represents a $5.40 annualized dividend and a yield of 1.8%. Norfolk Southern’s dividend payout ratio is 42.35%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Evercore increased their target price on Norfolk Southern from $298.00 to $299.00 in a report on Thursday, December 18th. Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a report on Friday, January 30th. Jefferies Financial Group raised their price objective on Norfolk Southern from $300.00 to $350.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. Sanford C. Bernstein lowered their target price on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. Finally, UBS Group cut shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 target price on the stock. in a report on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of “Hold” and a consensus price target of $308.95.

Norfolk Southern Company 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.