Greenland Capital Management LP Boosts Position in Norfolk Southern Co. (NYSE:NSC)
Greenland Capital Management LP raised its position in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 353.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,325 shares of the railroad operator’s stock after acquiring an additional 50,931 shares during the period. Norfolk Southern makes up about 1.6% of Greenland Capital Management LP’s investment portfolio, making the stock its 6th largest position. Greenland Capital Management LP’s holdings in Norfolk Southern were worth $14,813,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its position in Norfolk Southern by 3.0% during the second quarter. BlackRock Inc. now owns 15,860,404 shares of the railroad operator’s stock valued at $3,596,505,000 after acquiring an additional 465,902 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Norfolk Southern by 96,900.2% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 10,018,183 shares of the railroad operator’s stock worth $2,271,723,000 after purchasing an additional 10,007,855 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Norfolk Southern by 2.1% in the second quarter. Geode Capital Management LLC now owns 4,199,696 shares of the railroad operator’s stock worth $949,455,000 after purchasing an additional 86,988 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Norfolk Southern by 95,518.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,028,232 shares of the railroad operator’s stock worth $746,217,000 after purchasing an additional 3,025,065 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Norfolk Southern by 86.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,724,821 shares of the railroad operator’s stock worth $671,451,000 after purchasing an additional 1,265,666 shares during the last quarter. Institutional investors own 72.37% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on NSC shares. JPMorgan Chase & Co. cut their price target on shares of Norfolk Southern from $279.00 to $245.00 and set an “overweight” rating on the stock in a report on Wednesday, October 11th. StockNews.com initiated coverage on shares of Norfolk Southern in a report on Thursday, October 5th. They set a “hold” rating on the stock. BMO Capital Markets dropped their target price on shares of Norfolk Southern from $255.00 to $230.00 and set a “market perform” rating on the stock in a report on Thursday, October 26th. Wells Fargo & Company dropped their target price on shares of Norfolk Southern from $245.00 to $220.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. Finally, Citigroup dropped their target price on shares of Norfolk Southern from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.80.
Check Out Our Latest Research Report on NSC
Norfolk Southern Stock Performance
Shares of Norfolk Southern stock opened at $221.75 on Tuesday. The firm has a market capitalization of $50.15 billion, a P/E ratio of 24.31, a PEG ratio of 3.92 and a beta of 1.31. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The company has a 50 day moving average price of $204.00 and a 200 day moving average price of $212.11. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $261.71.
Norfolk Southern (NYSE:NSC – Get Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The railroad operator reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.74 by ($0.09). Norfolk Southern had a return on equity of 22.26% and a net margin of 16.96%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. Sell-side analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current year.
Norfolk Southern Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Friday, November 3rd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.44%. Norfolk Southern’s payout ratio is 59.21%.
Norfolk Southern Company Profile (Free Report)
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.
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