Flputnam Investment Management Co. Makes New $3.76 Million Investment in Norfolk Southern Corporation $NSC

Flputnam Investment Management Co. acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 11,958 shares of the railroad operator’s stock, valued at approximately $3,762,000.

A number of other large investors have also recently made changes to their positions in NSC. Louisiana State Employees Retirement System purchased a new position in Norfolk Southern in the first quarter valued at $3,272,000. O Shaughnessy Asset Management LLC grew its position in shares of Norfolk Southern by 9.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock valued at $12,533,000 after acquiring an additional 3,887 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. grew its position in shares of Norfolk Southern by 49.3% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 50,620 shares of the railroad operator’s stock valued at $14,615,000 after acquiring an additional 16,720 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab increased its stake in shares of Norfolk Southern by 29.2% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 54,620 shares of the railroad operator’s stock valued at $17,183,000 after purchasing an additional 12,350 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in Norfolk Southern by 54.4% during the fourth quarter. Gabelli Funds LLC now owns 51,112 shares of the railroad operator’s stock worth $14,757,000 after purchasing an additional 18,012 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

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

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

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 7th. Norfolk Southern’s payout ratio is presently 46.08%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NSC shares. Susquehanna boosted their price objective on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Weiss Ratings raised shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. Robert W. Baird increased their price objective on shares of Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Evercore set a $358.00 price target on shares of Norfolk Southern in a research note on Thursday, July 23rd. Finally, BMO Capital Markets increased their target price on Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $348.00.

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.