Palliser Capital UK Ltd Invests $10.12 Million in Norfolk Southern Corporation $NSC

Palliser Capital UK Ltd purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 32,154 shares of the railroad operator’s stock, valued at approximately $10,115,000. Norfolk Southern accounts for about 5.4% of Palliser Capital UK Ltd’s holdings, making the stock its 4th largest position.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its position in Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares in the last quarter. Intech Investment Management LLC increased its stake in Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after buying an additional 1,855 shares during the period. Sivia Capital Partners LLC purchased a new stake in Norfolk Southern in the 2nd quarter worth approximately $327,000. Schnieders Capital Management LLC. boosted its stake in shares of Norfolk Southern by 64.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock valued at $1,094,000 after buying an additional 1,670 shares during the period. Finally, Jump Financial LLC boosted its stake in shares of Norfolk Southern by 185.1% during the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock valued at $1,174,000 after buying an additional 2,979 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NSC has been the topic of a number of research reports. Rothschild & Co Redburn upped their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Evercore set a $358.00 price objective on Norfolk Southern in a research report on Thursday, July 23rd. TD Cowen boosted their target price on Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Finally, Susquehanna raised their price target on Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Price Performance

NYSE NSC opened at $352.91 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The company has a fifty day simple moving average of $329.08 and a 200 day simple moving average of $313.85. The company has a market cap of $79.27 billion, a P/E ratio of 30.11, a P/E/G ratio of 6.21 and a beta of 1.27. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping the consensus estimate of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.29 EPS. On average, sell-side analysts predict that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.08%.

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.