Norfolk Southern Corporation $NSC Shares Acquired by Governors Lane LP

Governors Lane LP lifted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,843 shares of the railroad operator’s stock after acquiring an additional 5,509 shares during the quarter. Norfolk Southern accounts for about 5.5% of Governors Lane LP’s portfolio, making the stock its 2nd largest position. Governors Lane LP owned 0.10% of Norfolk Southern worth $73,879,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sovereign Financial Group Inc. grew its stake in Norfolk Southern by 3.3% during the 1st quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock worth $318,000 after purchasing an additional 35 shares in the last quarter. Bar Harbor Wealth Management boosted its stake in shares of Norfolk Southern by 0.6% in the 1st quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator’s stock valued at $1,805,000 after buying an additional 36 shares during the period. Apollon Financial LLC increased its stake in shares of Norfolk Southern by 4.3% during the first quarter. Apollon Financial LLC now owns 881 shares of the railroad operator’s stock worth $253,000 after buying an additional 36 shares during the period. Moss Adams Wealth Advisors LLC grew its holdings in Norfolk Southern by 4.6% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator’s stock worth $237,000 after acquiring an additional 36 shares in the last quarter. Finally, CYBER HORNET ETFs LLC raised its holdings in shares of Norfolk Southern by 6.0% in the 4th quarter. CYBER HORNET ETFs LLC now owns 649 shares of the railroad operator’s stock valued at $187,000 after purchasing an additional 37 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NSC. Susquehanna upped their price objective on Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” 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. Finally, Royal Bank Of Canada boosted their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $348.00.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $327.94 on Wednesday. The stock has a market cap of $73.66 billion, a P/E ratio of 27.98, a P/E/G ratio of 4.89 and a beta of 1.27. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60. The stock has a 50 day moving average of $335.96 and a two-hundred day moving average of $315.84. 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 (NYSE:NSC) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $3.29 earnings per share. On average, research analysts forecast that Norfolk Southern Corporation will post 12.87 earnings per share for the current year.

Norfolk Southern Dividend Announcement

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

Norfolk Southern Profile

Norfolk Southern Corporation is a major freight railroad company serving the eastern United States. Through its railway network, the company transports raw materials, intermediate goods and finished products for industrial, agricultural, manufacturing and consumer markets. Its operations connect customers with domestic markets, major ports and other rail carriers.

The company transports a diverse range of commodities, including intermodal containers, coal, automotive products, agriculture and consumer goods, chemicals, metals, forest products and construction materials.