K2 Principal Fund L.P. Has $3.12 Million Stock Holdings in Norfolk Southern Corporation $NSC

K2 Principal Fund L.P. grew its position in Norfolk Southern Corporation (NYSE:NSC) by 1,100.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,800 shares of the railroad operator’s stock after purchasing an additional 9,900 shares during the period. K2 Principal Fund L.P.’s holdings in Norfolk Southern were worth $3,118,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Gilbert & Cook Inc. boosted its stake in shares of Norfolk Southern by 1.4% in the 4th quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator’s stock valued at $726,000 after purchasing an additional 35 shares in the last quarter. Moss Adams Wealth Advisors LLC boosted its stake in shares of Norfolk Southern by 4.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock valued at $228,000 after purchasing an additional 35 shares in the last quarter. Confluence Wealth Services Inc. boosted its stake in shares of Norfolk Southern by 1.1% in the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock valued at $892,000 after purchasing an additional 35 shares in the last quarter. Exencial Wealth Advisors LLC boosted its stake in shares of Norfolk Southern by 1.1% in the 4th quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock valued at $929,000 after purchasing an additional 35 shares in the last quarter. Finally, Quotient Wealth Partners LLC boosted its stake in shares of Norfolk Southern by 4.5% in the 4th quarter. Quotient Wealth Partners LLC now owns 864 shares of the railroad operator’s stock valued at $250,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC stock opened at $314.05 on Friday. The stock has a 50-day moving average price of $308.35 and a 200 day moving average price of $300.08. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The firm has a market cap of $70.53 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 5.79 and a beta of 1.27. Norfolk Southern Corporation has a 12 month low of $247.85 and a 12 month high of $326.00.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The firm had revenue of $3 billion during the quarter, compared to analyst estimates 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 was up .2% on a year-over-year basis. During the same period last year, the company earned $2.69 earnings per share. Research analysts expect that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio (DPR) is presently 45.49%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NSC. UBS Group set a $327.00 target price on shares of Norfolk Southern in a research note on Thursday, May 7th. Weiss Ratings cut Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Wolfe Research raised their price target on Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Robert W. Baird raised their price target on Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Finally, TD Cowen raised their price target on Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a report on Monday, April 27th. Six analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $322.71.

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.