5,000 Shares in Norfolk Southern Corporation $NSC Bought by Vazirani Asset Management LLC

Vazirani Asset Management LLC purchased a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,000 shares of the railroad operator’s stock, valued at approximately $1,572,950,000. Norfolk Southern makes up approximately 7.7% of Vazirani Asset Management LLC’s holdings, making the stock its 5th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPL Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the 3rd quarter valued at about $25,000. Edmond DE Rothschild Holding S.A. bought a new stake in Norfolk Southern in the second quarter valued at about $26,000. BNP Paribas acquired a new position in Norfolk Southern in the second quarter worth about $26,000. Meeder Asset Management Inc. bought a new position in Norfolk Southern during the second quarter worth about $27,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Norfolk Southern during the second quarter worth about $31,000. Institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Susquehanna lifted their price objective on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. UBS Group reissued a “neutral” rating and issued a $363.00 target price on shares of Norfolk Southern in a report on Friday, July 24th. TD Cowen raised their target price on Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Rothschild & Co Redburn boosted their price target on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, Stephens upgraded Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Stock Performance

NYSE:NSC opened at $352.60 on Thursday. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The firm has a 50 day moving average of $330.95 and a 200-day moving average of $314.49. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $79.20 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 6.18 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping the consensus estimate of $3.32 by $0.20. The business had revenue of $3.46 billion for 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%.Norfolk Southern’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.29 EPS. As a group, sell-side analysts anticipate that Norfolk Southern Corporation will post 12.74 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

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.