10,632 Shares in Norfolk Southern Corporation $NSC Purchased by Quantbot Technologies LP

Quantbot Technologies LP bought a new stake in Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,632 shares of the railroad operator’s stock, valued at approximately $3,345,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the third quarter worth about $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Norfolk Southern during the second quarter valued at approximately $26,000. BNP Paribas acquired a new stake in Norfolk Southern during the second quarter worth approximately $26,000. Meeder Asset Management Inc. acquired a new stake in Norfolk Southern during the second quarter worth approximately $27,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in Norfolk Southern in the 2nd quarter worth approximately $31,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NSC. Robert W. Baird boosted their price target on Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a report on Monday, July 27th. UBS Group restated a “neutral” rating and set a $363.00 price objective on shares of Norfolk Southern in a report on Friday, July 24th. TD Cowen upped their target price on Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Wells Fargo & Company increased their target price on Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $348.00.

Norfolk Southern Stock Performance

NYSE:NSC opened at $350.77 on Monday. The company has a market cap of $78.79 billion, a P/E ratio of 29.93, a P/E/G ratio of 6.21 and a beta of 1.27. The firm’s 50 day moving average is $328.23 and its two-hundred day moving average is $313.47. Norfolk Southern Corporation has a fifty-two week low of $268.23 and a fifty-two week high of $358.60. 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 quarterly earnings data 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. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.29 EPS. Analysts expect that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared 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. This represents a $5.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s payout ratio 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.