North Dakota State Investment Board Acquires New Shares in Norfolk Southern Corporation $NSC

North Dakota State Investment Board acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,747 shares of the railroad operator’s stock, valued at approximately $2,237,000.

Other institutional investors have also recently bought and sold shares of the company. Cullen Capital Management LLC boosted its position 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 purchasing an additional 29,264 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in Norfolk Southern during the third quarter valued at $24,033,000. Markel Group Inc. boosted its position in Norfolk Southern by 8.5% during 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 acquired a new stake in Norfolk Southern during the third quarter valued at $2,165,000. Finally, Principal Financial Group Inc. boosted its position in Norfolk Southern by 0.8% during the third quarter. Principal Financial Group Inc. now owns 250,186 shares of the railroad operator’s stock valued at $75,158,000 after purchasing an additional 2,049 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $319.87 on Tuesday. Norfolk Southern Corporation has a fifty-two week low of $236.37 and a fifty-two week high of $323.37. The business has a 50-day moving average of $299.56 and a two-hundred day moving average of $296.39. The stock has a market capitalization of $71.84 billion, a P/E ratio of 26.95, a P/E/G ratio of 5.84 and a beta of 1.30. 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 (NYSE:NSC) last posted its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $2.69 earnings per share. On average, equities research analysts predict that Norfolk Southern Corporation will post 12.11 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be paid a $1.35 dividend. The ex-dividend date is Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s payout ratio is presently 45.49%.

Analysts Set New Price Targets

A number of analysts have weighed in on NSC shares. Weiss Ratings cut Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 27th. Zacks Research raised Norfolk Southern from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. BMO Capital Markets boosted their price target on Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research report on Monday, April 27th. Royal Bank Of Canada boosted their price target on Norfolk Southern from $310.00 to $360.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Finally, UBS Group set a $327.00 price target on Norfolk Southern in a research report on Thursday, May 7th. Six investment analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $319.83.

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.