Norfolk Southern Corporation $NSC Shares Acquired by Tidal Investments LLC

Tidal Investments LLC lifted its holdings in Norfolk Southern Corporation (NYSE:NSC) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,274 shares of the railroad operator’s stock after buying an additional 1,990 shares during the quarter. Tidal Investments LLC’s holdings in Norfolk Southern were worth $9,209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have 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 valued at approximately $3,272,000. O Shaughnessy Asset Management LLC boosted its holdings in Norfolk Southern by 9.8% in 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 acquiring an additional 3,887 shares during the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Norfolk Southern in the 2nd quarter worth about $3,669,000. SCS Capital Management LLC purchased a new position in shares of Norfolk Southern in the 2nd quarter worth about $13,837,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at about $1,376,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 0.8%

Norfolk Southern stock opened at $320.78 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $336.01 and a two-hundred day moving average price of $315.99. The firm has a market capitalization of $72.05 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 4.76 and a beta of 1.27. Norfolk Southern Corporation has a 52-week low of $273.76 and a 52-week high of $358.60.

Norfolk Southern (NYSE:NSC) last posted its 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. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm earned $3.29 EPS. Sell-side analysts expect that Norfolk Southern Corporation will post 12.87 earnings per share 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 dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.08%.

Analysts Set New Price Targets

A number of research firms recently issued reports on NSC. Benchmark restated a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Royal Bank Of Canada lifted their target price on Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. Robert W. Baird upped their price target on shares of Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a report on Monday, July 27th. JPMorgan Chase & Co. upped their price objective on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Evercore set a $358.00 price target on Norfolk Southern in a report on Thursday, July 23rd. Seven research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $348.00.

Norfolk Southern Profile

Norfolk Southern Corporation is a major freight railroad company serving the eastern United States. Through its railway network, the company transports raw materials, intermediate goods and finished products for industrial, agricultural, manufacturing and consumer markets. Its operations connect customers with domestic markets, major ports and other rail carriers.

The company transports a diverse range of commodities, including intermodal containers, coal, automotive products, agriculture and consumer goods, chemicals, metals, forest products and construction materials.