Melqart Asset Management UK Ltd Invests $43.08 Million in Norfolk Southern Corporation $NSC

Melqart Asset Management UK Ltd acquired a new stake in Norfolk Southern Corporation (NYSE:NSC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 149,215 shares of the railroad operator’s stock, valued at approximately $43,081,000. Norfolk Southern makes up approximately 4.2% of Melqart Asset Management UK Ltd’s investment portfolio, making the stock its 9th largest holding. Melqart Asset Management UK Ltd owned approximately 0.07% of Norfolk Southern as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NSC. Norges Bank acquired a new stake in Norfolk Southern during the 4th quarter worth approximately $1,084,701,000. Pentwater Capital Management LP acquired a new position in Norfolk Southern during the third quarter valued at approximately $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Norfolk Southern by 545.2% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock worth $392,396,000 after buying an additional 1,103,748 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Norfolk Southern during the third quarter worth approximately $329,629,000. Finally, TOMS Capital Investment Management LP acquired a new stake in shares of Norfolk Southern in the second quarter worth $181,995,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.2%

NYSE NSC opened at $310.80 on Wednesday. The company’s fifty day simple moving average is $309.24 and its 200-day simple moving average is $300.49. Norfolk Southern Corporation has a 52 week low of $249.39 and a 52 week high of $326.00. 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 cap of $69.80 billion, a P/E ratio of 26.18, a PEG ratio of 5.73 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, beating analysts’ consensus estimates of $2.49 by $0.16. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business’s revenue was up .2% on a year-over-year basis. During the same period last year, the business earned $2.69 EPS. Equities research analysts predict that Norfolk Southern Corporation will post 12.12 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern’s dividend payout ratio is currently 45.49%.

Analysts Set New Price Targets

NSC has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Citigroup reaffirmed a “neutral” rating on shares of Norfolk Southern in a research report on Friday, April 24th. Evercore set a $325.00 price target on Norfolk Southern in a report on Friday, April 24th. Argus raised Norfolk Southern to a “hold” rating in a research report on Wednesday, February 25th. Finally, Sanford C. Bernstein decreased their target price on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Six research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat, Norfolk Southern has a consensus rating of “Hold” and an average target price of $322.71.

Norfolk Southern Company 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.