Governors Lane LP Increases Stake in Norfolk Southern Corporation $NSC

Governors Lane LP raised its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 46.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 197,303 shares of the railroad operator’s stock after purchasing an additional 63,001 shares during the quarter. Norfolk Southern makes up approximately 3.4% of Governors Lane LP’s investment portfolio, making the stock its 4th largest holding. Governors Lane LP’s holdings in Norfolk Southern were worth $56,965,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Evolve Private Wealth LLC bought a new stake in Norfolk Southern during the fourth quarter valued at $445,000. Empyrean Capital Partners LP lifted its stake in shares of Norfolk Southern by 49.3% in the 4th quarter. Empyrean Capital Partners LP now owns 203,800 shares of the railroad operator’s stock valued at $58,841,000 after purchasing an additional 67,300 shares during the period. Capitolis Liquid Global Markets LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $83,411,000. Cobalt Capital Management Inc. boosted its position in shares of Norfolk Southern by 11.1% during the 4th quarter. Cobalt Capital Management Inc. now owns 100,000 shares of the railroad operator’s stock valued at $28,872,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Norfolk Southern by 5.1% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 6,903 shares of the railroad operator’s stock worth $1,993,000 after purchasing an additional 332 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NSC has been the topic of several recent analyst reports. Susquehanna boosted their price target on Norfolk Southern from $330.00 to $337.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. Wolfe Research raised their price target on shares of Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Citigroup reiterated a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. Jefferies Financial Group cut their price objective on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Finally, Sanford C. Bernstein reduced their target price on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Six investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, Norfolk Southern presently has a consensus rating of “Hold” and a consensus price target of $322.71.

Norfolk Southern Trading Down 3.4%

NYSE NSC opened at $300.38 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $309.49 and a 200 day simple moving average of $300.56. Norfolk Southern Corporation has a 12 month low of $250.65 and a 12 month high of $326.00. The firm has a market capitalization of $67.46 billion, a P/E ratio of 25.31, a PEG ratio of 5.74 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the company earned $2.69 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts predict that Norfolk Southern Corporation will post 12.12 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders 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 1.8%. Norfolk Southern’s dividend payout ratio is currently 45.49%.

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.