Pallas Capital Advisors LLC Purchases New Shares in Norfolk Southern Corporation $NSC

Pallas Capital Advisors LLC acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the second quarter, HoldingsChannel reports. The fund acquired 2,123 shares of the railroad operator’s stock, valued at approximately $668,000.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after buying an additional 79 shares during the period. Intech Investment Management LLC boosted its position in Norfolk Southern by 40.4% during the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after acquiring an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Norfolk Southern during the 2nd quarter worth approximately $327,000. Schnieders Capital Management LLC. raised its position in shares of Norfolk Southern by 64.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after acquiring an additional 1,670 shares in the last quarter. Finally, Jump Financial LLC raised its position in shares of Norfolk Southern by 185.1% in the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after acquiring an additional 2,979 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Price Performance

NSC stock opened at $345.56 on Thursday. 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 50 day moving average price of $326.76 and a 200-day moving average price of $312.66. Norfolk Southern Corporation has a 52-week low of $268.23 and a 52-week high of $358.60. The firm has a market capitalization of $77.62 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 6.00 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the business posted $3.29 EPS. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts forecast that Norfolk Southern Corporation will post 12.66 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be issued 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 payout ratio is 46.08%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup raised their target price on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. increased their price objective on Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Susquehanna boosted their target price on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $348.00.

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.