Norfolk Southern Corporation $NSC Shares Purchased by Alpine Global Management LLC

Alpine Global Management LLC lifted its position in Norfolk Southern Corporation (NYSE:NSC) by 36.0% in the fourth quarter, HoldingsChannel reports. The firm owned 17,000 shares of the railroad operator’s stock after buying an additional 4,500 shares during the period. Norfolk Southern makes up about 0.8% of Alpine Global Management LLC’s portfolio, making the stock its 23rd biggest holding. Alpine Global Management LLC’s holdings in Norfolk Southern were worth $4,908,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gilbert & Cook Inc. raised its stake in Norfolk Southern by 1.4% during the fourth quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator’s stock worth $726,000 after purchasing an additional 35 shares during the period. Moss Adams Wealth Advisors LLC increased its holdings in shares of Norfolk Southern by 4.6% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock worth $228,000 after buying an additional 35 shares during the last quarter. Confluence Wealth Services Inc. increased its holdings in shares of Norfolk Southern by 1.1% during the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock worth $892,000 after buying an additional 35 shares during the last quarter. Exencial Wealth Advisors LLC raised its position in shares of Norfolk Southern by 1.1% during the 4th quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock valued at $929,000 after buying an additional 35 shares during the period. Finally, Quotient Wealth Partners LLC raised its position in shares of Norfolk Southern by 4.5% during the 4th quarter. Quotient Wealth Partners LLC now owns 864 shares of the railroad operator’s stock valued at $250,000 after buying an additional 37 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Trading Down 0.2%

NSC opened at $299.81 on Friday. Norfolk Southern Corporation has a 52 week low of $251.62 and a 52 week high of $326.00. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $309.71 and a 200-day simple moving average of $300.62. The firm has a market cap of $67.33 billion, a P/E ratio of 25.26, a P/E/G ratio of 5.55 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the business posted $2.69 EPS. Norfolk Southern’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts expect that Norfolk Southern Corporation will post 12.12 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio is currently 45.49%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NSC. Susquehanna raised their target price on Norfolk Southern from $330.00 to $337.00 and gave the stock a “neutral” rating in a research note on Friday, June 5th. Jefferies Financial Group decreased their price target on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. JPMorgan Chase & Co. lowered their price target on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Rothschild & Co Redburn raised their price objective on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, Citigroup restated a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat, Norfolk Southern has an average rating of “Hold” and an average price target of $322.71.

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.