PSquared Asset Management AG Takes $30.11 Million Position in Norfolk Southern Corporation $NSC

PSquared Asset Management AG acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 95,704 shares of the railroad operator’s stock, valued at approximately $30,108,000. Norfolk Southern makes up about 9.8% of PSquared Asset Management AG’s investment portfolio, making the stock its 6th biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NSC. Brighton Jones LLC raised its stake in Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after buying an additional 79 shares during the period. Intech Investment Management LLC increased its holdings in shares of Norfolk Southern by 40.4% during the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after acquiring an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Norfolk Southern during the second quarter valued at approximately $327,000. Schnieders Capital Management LLC. raised its position in shares of Norfolk Southern by 64.1% during the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after purchasing an additional 1,670 shares during the period. Finally, Jump Financial LLC lifted its holdings in shares of Norfolk Southern by 185.1% in the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after purchasing an additional 2,979 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Down 1.5%

Shares of NYSE NSC opened at $347.32 on Friday. 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 Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The firm has a market capitalization of $78.01 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 5.29 and a beta of 1.27. The firm has a fifty day simple moving average of $331.90 and a two-hundred day simple moving average of $314.78.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the firm posted $3.29 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities analysts expect that Norfolk Southern Corporation will post 12.74 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s payout ratio is presently 46.08%.

Analyst Ratings Changes

NSC has been the subject of several research reports. Robert W. Baird lifted their price target on shares of Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Royal Bank Of Canada raised their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Wells Fargo & Company boosted their target price on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $363.00 price target on shares of Norfolk Southern in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.