R Squared Ltd Raises Holdings in Norfolk Southern Corporation $NSC

R Squared Ltd increased its position in Norfolk Southern Corporation (NYSE:NSC) by 290.8% in the 1st quarter, HoldingsChannel reports. The fund owned 2,775 shares of the railroad operator’s stock after purchasing an additional 2,065 shares during the period. R Squared Ltd’s holdings in Norfolk Southern were worth $796,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new position in shares of Norfolk Southern in the first quarter valued at $3,272,000. O Shaughnessy Asset Management LLC boosted its position 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 valued at $12,533,000 after acquiring an additional 3,887 shares during the period. Farallon Capital Management LLC purchased a new position in shares of Norfolk Southern during the 3rd quarter valued at $184,752,000. Angelo Gordon & CO. L.P. purchased a new position in Norfolk Southern during the third quarter worth about $1,464,000. Finally, Brevan Howard Capital Management LP raised its stake in Norfolk Southern by 126.6% in the third quarter. Brevan Howard Capital Management LP now owns 15,413 shares of the railroad operator’s stock valued at $4,630,000 after purchasing an additional 8,612 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NSC has been the topic of a number of research reports. Royal Bank Of Canada decreased their price objective on Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a report on Wednesday, June 24th. Citigroup reaffirmed a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Robert W. Baird boosted their price objective on shares of Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. reduced their target price on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, BMO Capital Markets increased their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat, Norfolk Southern currently has an average rating of “Hold” and a consensus target price of $320.35.

Norfolk Southern Stock Up 0.1%

NSC traded up $0.42 during trading on Tuesday, hitting $322.32. 106,319 shares of the company’s stock traded hands, compared to its average volume of 1,241,712. The company’s 50 day simple moving average is $312.52 and its two-hundred day simple moving average is $302.01. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. Norfolk Southern Corporation has a 12-month low of $257.49 and a 12-month high of $326.00. The stock has a market capitalization of $72.39 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 5.96 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm posted $2.69 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. Analysts predict that Norfolk Southern Corporation will post 12.12 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio (DPR) is currently 45.49%.

Norfolk Southern Company 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.