22,894 Shares in Norfolk Southern Corporation $NSC Purchased by DLD Asset Management LP

DLD Asset Management LP acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 22,894 shares of the railroad operator’s stock, valued at approximately $7,202,000. Norfolk Southern accounts for approximately 0.5% of DLD Asset Management LP’s portfolio, making the stock its 23rd biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of NSC. Louisiana State Employees Retirement System acquired a new position in shares of Norfolk Southern in the first quarter worth $3,272,000. O Shaughnessy Asset Management LLC boosted its position in Norfolk Southern by 9.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock valued at $12,533,000 after purchasing an additional 3,887 shares during the last quarter. SCS Capital Management LLC acquired a new stake in Norfolk Southern during the second quarter valued at $13,837,000. B. Metzler seel. Sohn & Co. AG purchased a new position in Norfolk Southern in the second quarter valued at about $3,669,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in Norfolk Southern in the 2nd quarter worth about $1,376,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NSC shares. UBS Group restated a “neutral” rating and issued a $363.00 price objective on shares of Norfolk Southern in a report on Friday, July 24th. Evercore set a $358.00 target price on shares of Norfolk Southern in a research note on Thursday, July 23rd. Susquehanna boosted their target price on shares of Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada increased their price target on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Stock Up 0.0%

NSC opened at $350.77 on Monday. The firm has a market cap of $78.79 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 6.21 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. The business has a 50 day moving average price of $328.23 and a 200 day moving average price of $313.47. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the company posted $3.29 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Research analysts forecast that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Announces Dividend

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

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.