Hilton Head Capital Partners LLC Purchases New Holdings in Norfolk Southern Corporation $NSC

Hilton Head Capital Partners LLC purchased a new stake in Norfolk Southern Corporation (NYSE:NSC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,824 shares of the railroad operator’s stock, valued at approximately $1,104,000.

Several other hedge funds have also made changes to their positions in the company. ING Groep NV lifted its position in shares of Norfolk Southern by 151.3% in the 4th quarter. ING Groep NV now owns 72,899 shares of the railroad operator’s stock valued at $21,047,000 after acquiring an additional 43,895 shares in the last quarter. Capital World Investors lifted its position in Norfolk Southern by 6.7% in the 4th quarter. Capital World Investors now owns 1,747,507 shares of the railroad operator’s stock worth $504,540,000 after buying an additional 109,498 shares in the last quarter. Capital International Sarl lifted its position in Norfolk Southern by 6.8% in the 4th quarter. Capital International Sarl now owns 4,803 shares of the railroad operator’s stock worth $1,387,000 after buying an additional 306 shares in the last quarter. Capital International Investors lifted its position in Norfolk Southern by 7.5% in the 4th quarter. Capital International Investors now owns 180,528 shares of the railroad operator’s stock worth $52,198,000 after buying an additional 12,640 shares in the last quarter. Finally, First Command Advisory Services Inc. lifted its position in Norfolk Southern by 87.8% in the 4th quarter. First Command Advisory Services Inc. now owns 678 shares of the railroad operator’s stock worth $196,000 after buying an additional 317 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $313.88 on Monday. 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 stock has a market capitalization of $70.49 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 5.79 and a beta of 1.27. Norfolk Southern Corporation has a 1-year low of $247.85 and a 1-year high of $326.00. The firm’s 50-day moving average price is $305.69 and its two-hundred day moving average price is $299.20.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data 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. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.69 earnings per share. On average, equities analysts predict that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio is currently 45.49%.

Analysts Set New Price Targets

NSC has been the subject of a number of research analyst reports. Rothschild & Co Redburn increased their target price on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Jefferies Financial Group lowered their target price on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. TD Cowen raised their target price on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research note on Monday, April 27th. BMO Capital Markets raised their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $322.71.

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.