Pincus Capital Management LP Makes New $1.01 Million Investment in Norfolk Southern Corporation $NSC

Pincus Capital Management LP purchased a new position in Norfolk Southern Corporation (NYSE:NSC) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 3,500 shares of the railroad operator’s stock, valued at approximately $1,011,000. Norfolk Southern makes up approximately 0.7% of Pincus Capital Management LP’s holdings, making the stock its 27th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cullen Capital Management LLC boosted its stake in shares of Norfolk Southern by 31.8% in the 3rd quarter. Cullen Capital Management LLC now owns 121,351 shares of the railroad operator’s stock valued at $36,455,000 after purchasing an additional 29,264 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at $24,033,000. Principal Financial Group Inc. boosted its stake in shares of Norfolk Southern by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 250,186 shares of the railroad operator’s stock valued at $75,158,000 after purchasing an additional 2,049 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Norfolk Southern by 7.9% in the 3rd quarter. Primecap Management Co. CA now owns 1,132,583 shares of the railroad operator’s stock valued at $340,239,000 after purchasing an additional 82,500 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at $1,550,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.0%

Shares of NYSE NSC opened at $304.86 on Tuesday. 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 $241.82 and a 12 month high of $326.00. The firm has a market capitalization of $68.47 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 5.63 and a beta of 1.27. The firm has a fifty day simple moving average of $303.67 and a two-hundred day simple moving average of $298.50.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the business earned $2.69 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts expect that Norfolk Southern Corporation will post 12.11 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio (DPR) is presently 45.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NSC. Royal Bank Of Canada upped their price objective on shares of Norfolk Southern from $310.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. TD Cowen upped their price target on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a report on Monday, April 27th. UBS Group set a $327.00 price target on shares of Norfolk Southern in a report on Thursday, May 7th. Rothschild & Co Redburn upped their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, Citigroup reiterated a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $322.29.

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.