Old West Investment Management LLC Purchases New Holdings in Norfolk Southern Corporation $NSC

Old West Investment Management LLC purchased a new stake in Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,315 shares of the railroad operator’s stock, valued at approximately $4,503,000.

Several other institutional investors have also recently made changes to their positions in NSC. JPL Wealth Management LLC bought a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $25,000. BNP Paribas bought a new position in shares of Norfolk Southern in the second quarter valued at $26,000. Meeder Asset Management Inc. increased its holdings in Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after buying an additional 67 shares during the last quarter. Financial Life Planners acquired a new position in Norfolk Southern during the first quarter worth $33,000. Finally, Bayban bought a new stake in Norfolk Southern during the fourth quarter worth $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $334.69 on Monday. The stock has a market cap of $75.17 billion, a P/E ratio of 28.56, a PEG ratio of 5.92 and a beta of 1.27. The stock has a 50 day simple moving average of $324.87 and a 200 day simple moving average of $311.52. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping the consensus estimate of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the firm earned $3.29 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Research analysts anticipate that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.08%.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Stephens raised shares of Norfolk Southern to a “hold” rating in a report on Wednesday, July 8th. TD Cowen raised their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Evercore set a $358.00 price target on Norfolk Southern in a report on Thursday, July 23rd. Finally, Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, Norfolk Southern currently has an average rating of “Hold” and an average target price of $348.00.

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.