Erste Asset Management GmbH raised its holdings in Norfolk Southern Corporation (NYSE:NSC – Free Report) by 161.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,504 shares of the railroad operator’s stock after acquiring an additional 2,779 shares during the quarter. Erste Asset Management GmbH’s holdings in Norfolk Southern were worth $1,315,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new stake in Norfolk Southern in the third quarter valued at approximately $25,000. BNP Paribas acquired a new stake in Norfolk Southern in the second quarter valued at approximately $26,000. GoalVest Advisory LLC lifted its stake in Norfolk Southern by 933.3% in the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after acquiring an additional 84 shares during the last quarter. FNY Investment Advisers LLC lifted its stake in Norfolk Southern by 669.2% in the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock valued at $30,000 after acquiring an additional 87 shares during the last quarter. Finally, Financial Life Planners acquired a new stake in Norfolk Southern in the third quarter valued at approximately $35,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have issued reports on NSC. Barclays lifted their target price on shares of Norfolk Southern from $320.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings lowered shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 27th. Citigroup reissued a “neutral” rating on shares of Norfolk Southern in a research report on Friday, April 24th. Jefferies Financial Group dropped their price target on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Finally, Sanford C. Bernstein dropped their price target on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Six analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Hold” and a consensus price target of $322.71.
Norfolk Southern Trading Down 1.0%
NYSE:NSC opened at $309.23 on Thursday. Norfolk Southern Corporation has a 12 month low of $247.85 and a 12 month high of $326.00. The firm has a market cap of $69.45 billion, a price-to-earnings ratio of 26.05, a P/E/G ratio of 5.77 and a beta of 1.27. 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 company’s 50 day moving average is $307.35 and its 200-day moving average is $299.82.
Norfolk Southern (NYSE:NSC – Get Free Report) last released 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 net margin of 21.91% and a return on equity of 18.30%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm posted $2.69 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Norfolk Southern Corporation will post 12.11 EPS for the current year.
Norfolk Southern Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $1.35 per share. 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 payout ratio is 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.
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