XY Capital Ltd Buys New Shares in Norfolk Southern Corporation $NSC

XY Capital Ltd purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,000 shares of the railroad operator’s stock, valued at approximately $2,296,000. Norfolk Southern accounts for approximately 2.3% of XY Capital Ltd’s investment portfolio, making the stock its 19th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. JPL Wealth Management LLC bought a new position in shares of Norfolk Southern during the 3rd quarter valued at approximately $25,000. BNP Paribas purchased a new stake in Norfolk Southern in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. raised its stake in Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 67 shares during the period. Financial Life Planners purchased a new position in Norfolk Southern during the first quarter valued at approximately $33,000. Finally, Bayban purchased a new position in Norfolk Southern during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of analyst reports. BMO Capital Markets increased their price objective on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. TD Cowen lifted their target price on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Wells Fargo & Company upped their target price on shares of Norfolk Southern from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Susquehanna increased their price target on Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Finally, Stephens raised Norfolk Southern to a “hold” rating in a report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $329.35.

Norfolk Southern Trading Down 0.9%

NSC stock opened at $331.81 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $342.53. The business has a 50 day simple moving average of $315.65 and a two-hundred day simple moving average of $305.12. The company has a market capitalization of $74.52 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 6.12 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the business posted $2.69 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Research analysts anticipate that Norfolk Southern Corporation will post 12.24 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 7th. Norfolk Southern’s payout ratio is currently 45.49%.

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.