Caisse de depot et placement du Quebec Makes New Investment in Norfolk Southern Corporation $NSC

Caisse de depot et placement du Quebec purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 68,047 shares of the railroad operator’s stock, valued at approximately $21,407,000.

A number of other hedge funds have also modified their holdings of NSC. Sculptor Capital LP acquired a new stake in shares of Norfolk Southern during the second quarter worth about $115,270,000. Pointe Capital Management LLC acquired a new position in Norfolk Southern in the 2nd quarter worth approximately $337,000. Odyssean LLC increased its holdings in Norfolk Southern by 101.8% in the 2nd quarter. Odyssean LLC now owns 4,723 shares of the railroad operator’s stock worth $1,486,000 after buying an additional 2,383 shares during the period. Man Group plc purchased a new position in Norfolk Southern during the 2nd quarter worth approximately $56,133,000. Finally, First Bancorp Inc ME acquired a new stake in Norfolk Southern during the 2nd quarter valued at approximately $618,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NSC has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Weiss Ratings raised shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. Barclays boosted their target price on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. TD Cowen increased their price target on Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Citigroup lifted their price objective on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $348.00.

Norfolk Southern Trading Up 0.2%

Shares of NYSE:NSC opened at $348.67 on Friday. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The firm has a market capitalization of $78.31 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 5.22 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The business’s 50 day moving average price is $332.87 and its 200-day moving average price is $315.01.

Norfolk Southern (NYSE:NSC) last issued its quarterly 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 company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.29 EPS. On average, equities research analysts forecast that Norfolk Southern Corporation will post 12.74 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.5%. Norfolk Southern’s payout ratio is currently 46.08%.

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.