42,652 Shares in Norfolk Southern Corporation $NSC Acquired by Jupiter Topco LLC

Jupiter Topco LLC acquired a new stake in Norfolk Southern Corporation (NYSE:NSC) in the second quarter, Holdings Channel reports. The fund acquired 42,652 shares of the railroad operator’s stock, valued at approximately $13,418,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NSC. Kintayl Capital LP bought a new position in shares of Norfolk Southern in the 2nd quarter worth $4,634,000. EFG International AG bought a new stake in Norfolk Southern during the 2nd quarter valued at $14,005,000. Ancora Advisors LLC acquired a new position in Norfolk Southern during the second quarter worth $3,515,000. Primecap Management Co. CA bought a new position in shares of Norfolk Southern in the second quarter valued at $324,943,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Norfolk Southern in the second quarter valued at $185,204,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $348.67 on Friday. The business’s 50 day simple moving average is $332.87 and its 200 day simple moving average is $315.01. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The company has a market cap of $78.31 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 5.23 and a beta of 1.27. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98.

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 analysts’ consensus estimates of $3.32 by $0.20. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the business posted $3.29 earnings per share. Sell-side analysts forecast that Norfolk Southern Corporation will post 12.74 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, August 7th. Norfolk Southern’s payout ratio is currently 46.08%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NSC. Barclays raised their price target 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. Citigroup boosted their target price on Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. TD Cowen lifted their target price on Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $348.00.

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.