P Schoenfeld Asset Management LP Invests $6.20 Billion in Norfolk Southern Corporation $NSC

P Schoenfeld Asset Management LP bought a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, Holdings Channel reports. The firm bought 19,700 shares of the railroad operator’s stock, valued at approximately $6,197,423,000. Norfolk Southern comprises 2.5% of P Schoenfeld Asset Management LP’s investment portfolio, making the stock its 14th biggest holding.

Other large investors have also recently made changes to their positions in the company. JPL Wealth Management LLC bought a new position in Norfolk Southern during the third quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Norfolk Southern during the 2nd quarter valued at $26,000. BNP Paribas bought a new position in shares of Norfolk Southern during the 2nd quarter valued at $26,000. Meeder Asset Management Inc. purchased a new position in shares of Norfolk Southern in the 2nd quarter worth $27,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Norfolk Southern in the second quarter worth $31,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Up 0.0%

NYSE NSC opened at $350.77 on Monday. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $78.79 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 6.21 and a beta of 1.27. The stock’s 50-day moving average price is $328.23 and its 200-day moving average price is $313.47.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.29 EPS. On average, equities research analysts predict that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were paid 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 dividend yield of 1.5%. Norfolk Southern’s payout ratio is 46.08%.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of recent research reports. UBS Group reissued a “neutral” rating and issued a $363.00 target price on shares of Norfolk Southern in a report on Friday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Rothschild & Co Redburn boosted their target price on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Citigroup lifted their price target on shares of Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern 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.