North Star Asset Management Inc. Makes New Investment in Norfolk Southern Corporation $NSC

North Star Asset Management Inc. bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,649 shares of the railroad operator’s stock, valued at approximately $1,148,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System purchased a new stake in Norfolk Southern during the 1st quarter worth approximately $3,272,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Norfolk Southern by 9.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after buying an additional 3,887 shares during the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Norfolk Southern during the second quarter worth $3,669,000. SCS Capital Management LLC purchased a new stake in shares of Norfolk Southern during the second quarter valued at $13,837,000. Finally, Focus Partners Advisor Solutions LLC purchased a new position in Norfolk Southern in the 2nd quarter worth $1,376,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NSC. Stephens upgraded Norfolk Southern to a “hold” rating in a research note on Wednesday, July 8th. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Robert W. Baird upped their target price on Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. UBS Group reiterated a “neutral” rating and issued a $363.00 price target on shares of Norfolk Southern in a report on Friday, July 24th. Finally, Wells Fargo & Company raised their price target on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $348.67 on Friday. The company has a market capitalization of $78.31 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 5.22 and a beta of 1.27. 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 company’s fifty day moving average price is $332.87 and its 200 day moving average price is $315.01. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the firm posted $3.29 earnings per share. The company’s revenue was up 12.5% compared to the same quarter last year. On average, research analysts predict that Norfolk Southern Corporation will post 12.74 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm 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. The ex-dividend date was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.5%. Norfolk Southern’s dividend payout ratio is currently 46.08%.

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.