51,169 Shares in Norfolk Southern Corporation $NSC Bought by NINE MASTS CAPITAL Ltd

NINE MASTS CAPITAL Ltd bought a new stake in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 51,169 shares of the railroad operator’s stock, valued at approximately $16,097,000. Norfolk Southern makes up 1.6% of NINE MASTS CAPITAL Ltd’s investment portfolio, making the stock its 11th biggest position.

Several other hedge funds also recently made changes to their positions in NSC. JPL Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the 3rd quarter valued at approximately $25,000. BNP Paribas bought a new stake in Norfolk Southern during the second quarter valued at $26,000. Meeder Asset Management Inc. raised its holdings in shares of Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 67 shares during the period. Financial Life Planners acquired a new stake in shares of Norfolk Southern during the first quarter worth $33,000. Finally, Bayban acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Up 1.9%

Norfolk Southern stock opened at $340.90 on Tuesday. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60. 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 has a market capitalization of $76.57 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 5.92 and a beta of 1.27. The company has a 50 day moving average price of $325.50 and a 200 day moving average price of $311.88.

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. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.29 EPS. Research analysts forecast that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Announces Dividend

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

Wall Street Analysts Forecast Growth

NSC has been the subject of several analyst reports. Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Robert W. Baird raised their target price on Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. UBS Group reaffirmed a “neutral” rating and issued a $363.00 price objective on shares of Norfolk Southern in a research note on Friday, July 24th. 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, Royal Bank Of Canada raised their target price on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, the stock 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.