Geode Capital Management LLC raised its stake in Norfolk Southern Corporation (NYSE:NSC – Free Report) by 0.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,878,029 shares of the railroad operator’s stock after purchasing an additional 36,205 shares during the quarter. Geode Capital Management LLC’s holdings in Norfolk Southern were worth $1,401,797,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in NSC. Brighton Jones LLC increased its holdings in shares of Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after buying an additional 79 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after buying an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Norfolk Southern in the 2nd quarter worth $327,000. Schnieders Capital Management LLC. increased its holdings in shares of Norfolk Southern by 64.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after buying an additional 1,670 shares during the last quarter. Finally, Jump Financial LLC increased its holdings in shares of Norfolk Southern by 185.1% in the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after buying an additional 2,979 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.
Analyst Ratings Changes
NSC has been the topic of a number of research analyst reports. TD Cowen increased their price target on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a report on Monday, April 27th. UBS Group set a $327.00 price target on shares of Norfolk Southern in a report on Thursday, May 7th. Argus raised shares of Norfolk Southern to a “hold” rating in a report on Wednesday, February 25th. Zacks Research raised shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Robert W. Baird upped their price objective 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. Six analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $319.83.
Norfolk Southern Price Performance
Shares of Norfolk Southern stock opened at $307.69 on Friday. Norfolk Southern Corporation has a 52-week low of $241.82 and a 52-week high of $326.00. The stock has a market capitalization of $69.10 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 6.02 and a beta of 1.30. The company has a fifty day moving average of $302.72 and a 200-day moving average of $298.25. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91.
Norfolk Southern (NYSE:NSC – Get Free Report) last announced its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the company earned $2.69 EPS. The firm’s revenue was up .2% on a year-over-year basis. Equities research analysts expect that Norfolk Southern Corporation will post 12.11 EPS for the current year.
Norfolk Southern Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid 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 dividend yield of 1.8%. Norfolk Southern’s dividend payout ratio is 45.49%.
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.
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