38,876 Shares in Norfolk Southern Corporation $NSC Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, Holdings Channel reports. The firm bought 38,876 shares of the railroad operator’s stock, valued at approximately $12,230,000.

Other hedge funds have also bought and sold shares of the company. Capital Square LLC purchased a new stake in Norfolk Southern in the second quarter worth about $1,376,000. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Norfolk Southern during the 2nd quarter valued at about $1,391,000. DLD Asset Management LP bought a new position in shares of Norfolk Southern during the 2nd quarter valued at approximately $7,202,000. Magellan Asset Management Ltd purchased a new stake in Norfolk Southern in the 2nd quarter worth approximately $63,341,000. Finally, Haverford Trust Co purchased a new stake in Norfolk Southern in the 2nd quarter worth approximately $3,899,000. Institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NSC shares. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research note on Friday, July 24th. Rothschild & Co Redburn increased their price objective on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Evercore set a $358.00 price objective on shares of Norfolk Southern in a research report on Thursday, July 23rd. 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 report on Friday, July 24th. Finally, Susquehanna raised their target price on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Seven research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $348.00.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $351.73 on Wednesday. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60. The stock has a market capitalization of $79.00 billion, a P/E ratio of 30.01, a PEG ratio of 6.25 and a beta of 1.27. The firm has a fifty day simple moving average of $329.90 and a two-hundred day simple moving average of $314.17. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $3.38 billion. During the same period in the prior year, the company earned $3.29 EPS. The business’s revenue was up 12.5% compared to the same quarter last year. On average, analysts expect that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were issued a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.5%. Norfolk Southern’s payout ratio is 46.08%.

Norfolk Southern 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.