Mint Tower Capital Management B.V. Takes $5.35 Million Position in Norfolk Southern Corporation $NSC

Mint Tower Capital Management B.V. purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 17,000 shares of the railroad operator’s stock, valued at approximately $5,348,000. Norfolk Southern comprises about 0.6% of Mint Tower Capital Management B.V.’s portfolio, making the stock its 20th biggest holding.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Norfolk Southern in the second quarter worth about $5,033,549,000. Norges Bank bought a new stake in shares of Norfolk Southern during the 4th quarter valued at about $1,084,701,000. Bank of America Corp DE purchased a new stake in shares of Norfolk Southern during the 2nd quarter valued at about $978,977,000. Pentwater Capital Management LP bought a new position in shares of Norfolk Southern in the 3rd quarter worth approximately $826,128,000. Finally, Legal & General Group Plc purchased a new position in shares of Norfolk Southern in the second quarter worth approximately $503,093,000. Institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NSC shares. UBS Group restated a “neutral” rating and set a $363.00 target price on shares of Norfolk Southern in a research report on Friday, July 24th. Barclays boosted their price target on Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Susquehanna increased their price objective on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Stephens raised shares of Norfolk Southern to a “hold” rating in a report on Wednesday, July 8th. Finally, Royal Bank Of Canada boosted their price objective on Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern Trading Up 0.2%

Shares of NSC opened at $348.67 on Friday. The firm has a market capitalization of $78.31 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 5.22 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60. The company has a 50-day moving average of $332.87 and a 200 day moving average of $315.01.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping 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 business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the firm earned $3.29 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, research analysts expect that Norfolk Southern Corporation will post 12.74 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced 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. 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 dividend payout ratio (DPR) is 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.