Norfolk Southern Corporation $NSC Shares Sold by DLD Asset Management LP

DLD Asset Management LP decreased its holdings in Norfolk Southern Corporation (NYSE:NSC) by 31.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,379 shares of the railroad operator’s stock after selling 3,810 shares during the quarter. DLD Asset Management LP’s holdings in Norfolk Southern were worth $2,405,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NSC. JPL Wealth Management LLC purchased a new stake in shares of Norfolk Southern in the third quarter valued at about $25,000. Meeder Asset Management Inc. grew its holdings in shares of Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after buying an additional 67 shares during the last quarter. BNP Paribas purchased a new position in shares of Norfolk Southern during the second quarter worth about $26,000. Financial Life Planners purchased a new position in shares of Norfolk Southern during the first quarter worth about $33,000. Finally, Bayban acquired a new position in Norfolk Southern in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NSC. Weiss Ratings downgraded Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Royal Bank Of Canada lowered their target price on Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a research note on Wednesday, June 24th. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. JPMorgan Chase & Co. cut their price target on Norfolk Southern from $331.00 to $316.00 and set a “neutral” rating for the company in a research note on Friday, July 10th. Finally, Wells Fargo & Company increased their price target on Norfolk Southern from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $329.35.

Norfolk Southern Price Performance

Shares of NSC opened at $331.52 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average is $316.07 and its two-hundred day moving average is $305.42. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $342.53. The firm has a market capitalization of $74.46 billion, a PE ratio of 27.93, a P/E/G ratio of 6.06 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $2.69 EPS. Research analysts anticipate that Norfolk Southern Corporation will post 12.24 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern’s dividend payout ratio 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.