Capricorn Fund Managers Ltd Acquires 36,117 Shares of Norfolk Southern Corporation $NSC

Capricorn Fund Managers Ltd lifted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 144.5% during the first quarter, Holdings Channel.com reports. The firm owned 61,117 shares of the railroad operator’s stock after acquiring an additional 36,117 shares during the period. Norfolk Southern accounts for about 2.7% of Capricorn Fund Managers Ltd’s portfolio, making the stock its 9th biggest position. Capricorn Fund Managers Ltd’s holdings in Norfolk Southern were worth $17,541,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bayban grew its position in Norfolk Southern by 842.7% in the 1st quarter. Bayban now owns 1,103 shares of the railroad operator’s stock valued at $317,000 after buying an additional 986 shares in the last quarter. Premier Path Wealth Partners LLC boosted its holdings in shares of Norfolk Southern by 24.4% in the first quarter. Premier Path Wealth Partners LLC now owns 1,416 shares of the railroad operator’s stock valued at $406,000 after acquiring an additional 278 shares in the last quarter. Moss Adams Wealth Advisors LLC boosted its holdings in shares of Norfolk Southern by 4.6% in the first quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator’s stock valued at $237,000 after acquiring an additional 36 shares in the last quarter. 3Chopt Investment Partners LLC increased its stake in shares of Norfolk Southern by 2.4% during the first quarter. 3Chopt Investment Partners LLC now owns 10,613 shares of the railroad operator’s stock valued at $3,046,000 after acquiring an additional 248 shares during the period. Finally, Apollon Financial LLC raised its holdings in Norfolk Southern by 4.3% during the first quarter. Apollon Financial LLC now owns 881 shares of the railroad operator’s stock worth $253,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of research reports. Robert W. Baird increased their price target on Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Evercore set a $325.00 price objective on Norfolk Southern in a research note on Friday, April 24th. Wolfe Research upped their price objective on Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. UBS Group set a $327.00 target price on Norfolk Southern in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada lowered their target price on Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a report on Wednesday, June 24th. Six analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $320.35.

Norfolk Southern Stock Performance

NSC opened at $314.68 on Wednesday. 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 firm has a market cap of $70.67 billion, a PE ratio of 26.51, a P/E/G ratio of 5.84 and a beta of 1.27. The business has a fifty day simple moving average of $311.31 and a 200-day simple moving average of $301.49. Norfolk Southern Corporation has a fifty-two week low of $255.41 and a fifty-two week high of $326.00.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the firm earned $2.69 earnings per share. Norfolk Southern’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts predict that Norfolk Southern Corporation will post 12.12 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s payout ratio is presently 45.49%.

About Norfolk Southern

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.