Orion Porfolio Solutions LLC Buys 3,146 Shares of Norfolk Southern Corporation $NSC

Orion Porfolio Solutions LLC lifted its stake in Norfolk Southern Corporation (NYSE:NSC) by 9.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,836 shares of the railroad operator’s stock after acquiring an additional 3,146 shares during the period. Orion Porfolio Solutions LLC’s holdings in Norfolk Southern were worth $10,465,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Park Place Capital Corp raised its holdings in Norfolk Southern by 13,000.0% in the 3rd quarter. Park Place Capital Corp now owns 3,668 shares of the railroad operator’s stock worth $1,102,000 after acquiring an additional 3,640 shares during the period. Cullen Capital Management LLC boosted its holdings in Norfolk Southern by 31.8% during the third quarter. Cullen Capital Management LLC now owns 121,351 shares of the railroad operator’s stock valued at $36,455,000 after acquiring an additional 29,264 shares during the period. Markel Group Inc. grew its position in shares of Norfolk Southern by 8.5% in the third quarter. Markel Group Inc. now owns 256,500 shares of the railroad operator’s stock valued at $77,055,000 after purchasing an additional 20,000 shares during the last quarter. AlphaQuest LLC bought a new position in shares of Norfolk Southern in the third quarter worth about $2,165,000. Finally, First Horizon Corp acquired a new position in shares of Norfolk Southern during the 3rd quarter worth about $565,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

NYSE NSC opened at $311.57 on Friday. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $319.94. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The stock has a market cap of $69.97 billion, a P/E ratio of 24.44, a PEG ratio of 5.74 and a beta of 1.31. The company’s 50-day simple moving average is $299.85 and its 200 day simple moving average is $291.39.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the previous year, the business earned $3.04 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, research analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is presently 42.35%.

Analyst Ratings Changes

A number of research firms have issued reports on NSC. Wolfe Research raised their target price on Norfolk Southern from $361.00 to $368.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Citigroup reduced their price target on shares of Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating for the company in a report on Friday, January 30th. UBS Group cut shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 target price for the company. in a research note on Friday, February 6th. Royal Bank Of Canada lowered their price target on Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating on the stock in a research note on Friday, January 30th. Finally, Robert W. Baird cut their price target on Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Norfolk Southern has an average rating of “Hold” and a consensus price target of $304.47.

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.