Carlson Capital L.P. Acquires 3,000 Shares of Norfolk Southern Corporation $NSC

Carlson Capital L.P. raised its holdings in Norfolk Southern Corporation (NYSE:NSC) by 52.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,700 shares of the railroad operator’s stock after acquiring an additional 3,000 shares during the period. Norfolk Southern accounts for 0.8% of Carlson Capital L.P.’s portfolio, making the stock its 13th largest position. Carlson Capital L.P.’s holdings in Norfolk Southern were worth $2,497,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new stake in Norfolk Southern in the 1st quarter worth $3,272,000. O Shaughnessy Asset Management LLC increased its holdings in shares of Norfolk Southern by 9.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after purchasing an additional 3,887 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in shares of Norfolk Southern by 49.3% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 50,620 shares of the railroad operator’s stock valued at $14,615,000 after buying an additional 16,720 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Norfolk Southern by 8.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 138,194 shares of the railroad operator’s stock valued at $39,899,000 after buying an additional 10,910 shares during the last quarter. Finally, Gabelli Funds LLC raised its position in shares of Norfolk Southern by 54.4% during the fourth quarter. Gabelli Funds LLC now owns 51,112 shares of the railroad operator’s stock valued at $14,757,000 after buying an additional 18,012 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $335.89 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. The firm’s 50-day simple moving average is $319.64 and its 200-day simple moving average is $307.90. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60. The firm has a market cap of $75.45 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 5.94 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating 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 analysts’ expectations of $3.38 billion. During the same quarter in the previous year, the firm posted $3.29 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, research analysts expect that Norfolk Southern Corporation will post 12.6 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 7th. Norfolk Southern’s dividend payout ratio is currently 46.08%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup lifted their target price on Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Rothschild & Co Redburn raised their price objective on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Jefferies Financial Group decreased their price objective on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Finally, Susquehanna boosted their price objective on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Hold” and an average price target of $348.00.

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.