Norfolk Southern Corporation $NSC Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 22.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,252,565 shares of the railroad operator’s stock after acquiring an additional 228,486 shares during the period. Arrowstreet Capital Limited Partnership owned 0.56% of Norfolk Southern worth $376,283,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Tritonpoint Wealth LLC raised its holdings in shares of Norfolk Southern by 3.5% during the third quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock valued at $313,000 after buying an additional 35 shares during the last quarter. Massachusetts Wealth Management increased its position in Norfolk Southern by 0.6% in the 3rd quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock valued at $1,798,000 after acquiring an additional 35 shares during the period. ORG Partners LLC raised its stake in Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after acquiring an additional 36 shares in the last quarter. Inspirion Wealth Advisors LLC boosted its position in Norfolk Southern by 1.9% during the 3rd quarter. Inspirion Wealth Advisors LLC now owns 2,008 shares of the railroad operator’s stock worth $603,000 after acquiring an additional 37 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its position in Norfolk Southern by 1.8% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 2,042 shares of the railroad operator’s stock worth $613,000 after acquiring an additional 37 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NSC has been the topic of a number of research analyst reports. Royal Bank Of Canada lowered their price target on Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating on the stock in a report on Friday, January 30th. Barclays decreased their target price on shares of Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. UBS Group downgraded shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 price target on the stock. in a research report on Friday, February 6th. Morgan Stanley raised shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a research note on Thursday, December 18th. Finally, Jefferies Financial Group increased their price objective on shares of Norfolk Southern from $300.00 to $350.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. Seven investment analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Norfolk Southern presently has a consensus rating of “Hold” and an average price target of $308.95.

Norfolk Southern Price Performance

NYSE:NSC opened at $290.81 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average price is $300.71 and its 200 day moving average price is $291.91. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $319.94. The firm has a market cap of $65.31 billion, a P/E ratio of 22.81, a PEG ratio of 5.37 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, beating 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 company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the prior year, the company earned $3.04 EPS. Norfolk Southern’s revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were issued a $1.35 dividend. 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 dividend payout ratio is currently 42.35%.

About Norfolk Southern

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.