Norfolk Southern Corporation $NSC Position Boosted by Calamos Advisors LLC

Calamos Advisors LLC lifted its position in Norfolk Southern Corporation (NYSE:NSC) by 13.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 274,799 shares of the railroad operator’s stock after buying an additional 32,775 shares during the period. Calamos Advisors LLC’s holdings in Norfolk Southern were worth $84,913,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NSC. BlackRock Inc. bought a new position in Norfolk Southern during the second quarter valued at about $5,033,549,000. Bank of America Corp DE acquired a new stake in Norfolk Southern in the 2nd quarter valued at about $978,977,000. Dimensional Fund Advisors LP lifted its holdings in Norfolk Southern by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,259,558 shares of the railroad operator’s stock valued at $648,429,000 after acquiring an additional 46,127 shares during the last quarter. Amundi boosted its position in shares of Norfolk Southern by 24.2% during the 1st quarter. Amundi now owns 2,226,885 shares of the railroad operator’s stock valued at $639,116,000 after purchasing an additional 434,074 shares in the last quarter. Finally, HBK Investments L P boosted its position in shares of Norfolk Southern by 0.8% during the 2nd quarter. HBK Investments L P now owns 1,750,000 shares of the railroad operator’s stock valued at $550,532,000 after purchasing an additional 13,644 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 2.8%

NSC traded down $9.19 during trading on Friday, reaching $320.06. The company had a trading volume of 1,280,254 shares, compared to its average volume of 787,048. The firm’s 50-day simple moving average is $324.86 and its 200 day simple moving average is $316.10. The company has a market cap of $71.89 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 5.17 and a beta of 1.20. Norfolk Southern Corporation has a 12-month low of $277.80 and a 12-month high of $358.60. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.90.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.16. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the previous year, the company earned $3.30 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities research analysts anticipate that Norfolk Southern Corporation will post 12.80 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, November 6th. Norfolk Southern’s dividend payout ratio (DPR) is 45.26%.

Wall Street Analysts Forecast Growth

NSC has been the topic of several recent research reports. Weiss Ratings raised shares of Norfolk Southern from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research note on Friday, July 24th. Royal Bank Of Canada raised their target price on shares of Norfolk Southern from $330.00 to $350.00 and gave the stock a “sector perform” rating in a report on Friday, October 23rd. Susquehanna decreased their price target on shares of Norfolk Southern from $386.00 to $350.00 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Finally, Citigroup upped their price target on Norfolk Southern from $347.00 to $349.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $348.81.

Norfolk Southern Profile

Norfolk Southern Corporation is a freight transportation company that operates a major railroad network across the eastern United States. Its rail services connect businesses, ports and communities, and link with other railroads to move goods across North America.

The company transports a broad range of products, including coal, chemicals, agricultural goods, automotive vehicles and parts, metals, construction materials and consumer products. Its services include intermodal transportation, which combines rail with truck or container shipping, as well as rail freight and logistics solutions.

Norfolk Southern was formed in 1982 through the merger of the Norfolk and Western Railway and the Southern Railway.