Alpine Global Management LLC Acquires New Stake in Norfolk Southern Corporation $NSC

Alpine Global Management LLC bought a new position in Norfolk Southern Corporation (NYSE:NSC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,500 shares of the railroad operator’s stock, valued at approximately $3,755,000.

A number of other large investors have also recently added to or reduced their stakes in NSC. Tritonpoint Wealth LLC lifted its holdings in shares of Norfolk Southern by 3.5% in the third quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock valued at $313,000 after purchasing an additional 35 shares in the last quarter. Massachusetts Wealth Management grew its holdings in shares of Norfolk Southern by 0.6% during the third quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock worth $1,798,000 after buying an additional 35 shares in the last quarter. ORG Partners LLC raised its position in Norfolk Southern by 75.0% in the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after buying an additional 36 shares during the last quarter. Inspirion Wealth Advisors LLC raised its position in Norfolk Southern by 1.9% in the 3rd quarter. Inspirion Wealth Advisors LLC now owns 2,008 shares of the railroad operator’s stock valued at $603,000 after buying an additional 37 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its stake in Norfolk Southern by 1.8% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 2,042 shares of the railroad operator’s stock valued at $613,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.2%

NSC opened at $291.41 on Wednesday. The stock’s fifty day simple moving average is $300.80 and its 200 day simple moving average is $292.41. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $319.94. The stock has a market cap of $65.44 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 5.25 and a beta of 1.31. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the previous year, the business posted $3.04 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern’s payout ratio is presently 42.35%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NSC. Morgan Stanley raised Norfolk Southern from an “equal weight” rating to a “buy” rating in a research report on Thursday, December 18th. Jefferies Financial Group boosted their price objective on shares of Norfolk Southern from $300.00 to $350.00 and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. Robert W. Baird increased their target price on shares of Norfolk Southern from $288.00 to $315.00 and gave the stock a “neutral” rating in a report on Friday, March 6th. JPMorgan Chase & Co. decreased their target price on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price target for the company from $354.00 to $297.00 in a research note on Thursday, December 11th. Eight equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $308.95.

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.