Governors Lane LP Has $56.97 Million Position in Norfolk Southern Corporation $NSC

Governors Lane LP increased its stake in Norfolk Southern Corporation (NYSE:NSC) by 46.9% during the fourth quarter, according to its most recent Form 13F 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 period. Norfolk Southern makes up 3.4% of Governors Lane LP’s holdings, making the stock its 4th biggest holding. Governors Lane LP owned 0.09% of Norfolk Southern worth $56,965,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gilbert & Cook Inc. lifted its position in Norfolk Southern by 1.4% during the fourth quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator’s stock worth $726,000 after purchasing an additional 35 shares during the period. Moss Adams Wealth Advisors LLC increased its holdings in Norfolk Southern by 4.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock valued at $228,000 after buying an additional 35 shares during the period. Confluence Wealth Services Inc. raised its position in shares of Norfolk Southern by 1.1% in the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock valued at $892,000 after buying an additional 35 shares in the last quarter. Exencial Wealth Advisors LLC lifted its holdings in shares of Norfolk Southern by 1.1% during the 4th quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock worth $929,000 after acquiring an additional 35 shares during the period. Finally, Quotient Wealth Partners LLC lifted its holdings in shares of Norfolk Southern by 4.5% during the 4th quarter. Quotient Wealth Partners LLC now owns 864 shares of the railroad operator’s stock worth $250,000 after acquiring an additional 37 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NSC. BMO Capital Markets lifted their price objective on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. decreased their price target on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Rothschild & Co Redburn boosted their price target on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. TD Cowen upped their price objective on Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Robert W. Baird lifted their target price on Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating and sixteen have given 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 Price Performance

Shares of NSC opened at $300.38 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The stock has a market cap of $67.46 billion, a PE ratio of 25.31, a PEG ratio of 5.74 and a beta of 1.27. Norfolk Southern Corporation has a 12-month low of $250.65 and a 12-month high of $326.00. The business has a 50-day simple moving average of $309.49 and a two-hundred day simple moving average of $300.56.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the firm posted $2.69 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Analysts anticipate that Norfolk Southern Corporation will post 12.12 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $1.35 per share. 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 (DPR) is presently 45.49%.

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.