Norfolk Southern Corp. (NSC) Shares Bought by Acadian Asset Management LLC

Acadian Asset Management LLC increased its stake in Norfolk Southern Corp. (NYSE:NSC) by 695.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,905 shares of the railroad operator’s stock after acquiring an additional 2,540 shares during the quarter. Acadian Asset Management LLC’s holdings in Norfolk Southern were worth $438,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Norfolk Southern by 1.6% in the 1st quarter. BlackRock Inc. now owns 21,254,266 shares of the railroad operator’s stock valued at $2,885,904,000 after acquiring an additional 329,245 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Norfolk Southern by 6.0% in the 1st quarter. American Century Companies Inc. now owns 1,305,994 shares of the railroad operator’s stock valued at $177,328,000 after acquiring an additional 74,003 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Norfolk Southern by 2.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,061,744 shares of the railroad operator’s stock valued at $144,164,000 after purchasing an additional 30,024 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Norfolk Southern by 0.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 850,512 shares of the railroad operator’s stock valued at $115,483,000 after purchasing an additional 6,236 shares during the period. Finally, Schroder Investment Management Group grew its position in Norfolk Southern by 2,147.6% in the 1st quarter. Schroder Investment Management Group now owns 779,690 shares of the railroad operator’s stock valued at $105,866,000 after purchasing an additional 745,000 shares during the period. Institutional investors own 73.24% of the company’s stock.

NSC opened at $171.12 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The firm has a market cap of $48.15 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.58 and a beta of 1.39. Norfolk Southern Corp. has a 1 year low of $116.77 and a 1 year high of $174.43.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, July 25th. The railroad operator reported $2.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.19. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.87 billion. Norfolk Southern had a net margin of 52.36% and a return on equity of 14.53%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.71 EPS. analysts expect that Norfolk Southern Corp. will post 9.06 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Monday, August 6th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.87%. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Friday, August 3rd. Norfolk Southern’s payout ratio is currently 48.41%.

NSC has been the subject of several research reports. Cowen reissued a “buy” rating and issued a $167.00 price target on shares of Norfolk Southern in a research report on Wednesday, April 25th. ValuEngine raised shares of Norfolk Southern from a “hold” rating to a “buy” rating in a research report on Thursday, April 26th. Scotiabank set a $167.00 price target on shares of Norfolk Southern and gave the company a “buy” rating in a research report on Wednesday, April 25th. JPMorgan Chase & Co. lifted their price target on shares of Norfolk Southern from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, April 26th. Finally, Morgan Stanley lifted their price target on shares of Norfolk Southern from $100.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday, April 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. Norfolk Southern has a consensus rating of “Hold” and an average target price of $159.72.

In other Norfolk Southern news, COO Michael Joseph Wheeler sold 2,000 shares of Norfolk Southern stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $151.33, for a total transaction of $302,660.00. Following the transaction, the chief operating officer now directly owns 10,207 shares of the company’s stock, valued at approximately $1,544,625.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is owned by insiders.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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