149,215 Shares in Norfolk Southern Corporation $NSC Bought by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd purchased a new stake in Norfolk Southern Corporation (NYSE:NSC) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 149,215 shares of the railroad operator’s stock, valued at approximately $43,081,000. Norfolk Southern comprises approximately 4.2% of Melqart Asset Management UK Ltd’s holdings, making the stock its 9th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Norfolk Southern by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock worth $6,012,836,000 after acquiring an additional 272,651 shares in the last quarter. State Street Corp raised its stake in shares of Norfolk Southern by 4.1% in the 4th quarter. State Street Corp now owns 9,710,549 shares of the railroad operator’s stock valued at $2,803,630,000 after purchasing an additional 379,819 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Norfolk Southern by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock worth $1,401,797,000 after purchasing an additional 36,205 shares during the last quarter. Norges Bank bought a new position in shares of Norfolk Southern during the fourth quarter worth about $1,084,701,000. Finally, Pentwater Capital Management LP acquired a new position in Norfolk Southern in the third quarter worth about $826,128,000. 75.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NSC shares. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. JPMorgan Chase & Co. reduced their target price on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Weiss Ratings downgraded Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Zacks Research raised Norfolk Southern from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Rothschild & Co Redburn upped their price target on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Six equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $322.71.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $310.80 on Wednesday. The company has a market cap of $69.80 billion, a PE ratio of 26.18, a P/E/G ratio of 5.73 and a beta of 1.27. Norfolk Southern Corporation has a fifty-two week low of $249.39 and a fifty-two week high of $326.00. The firm has a 50-day simple moving average of $309.24 and a 200 day simple moving average of $300.49. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the company posted $2.69 earnings per share. Norfolk Southern’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Dividend Announcement

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

Norfolk Southern 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.