HORAN Wealth LLC increased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC – Free Report) by 100.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,606 shares of the railroad operator’s stock after purchasing an additional 3,803 shares during the quarter. HORAN Wealth LLC’s holdings in Norfolk Southern were worth $2,189,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Norfolk Southern in the 4th quarter worth approximately $1,084,701,000. Pentwater Capital Management LP purchased a new stake in Norfolk Southern during the 3rd quarter valued at approximately $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Norfolk Southern by 545.2% during the 3rd 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 valued at $392,396,000 after buying an additional 1,103,748 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Norfolk Southern during the third quarter valued at approximately $329,629,000. Finally, HBK Investments L P lifted its holdings in shares of Norfolk Southern by 67.7% in the fourth quarter. HBK Investments L P now owns 2,130,000 shares of the railroad operator’s stock worth $614,974,000 after buying an additional 860,000 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.
Wall Street Analysts Forecast Growth
NSC has been the subject of a number of research reports. Royal Bank Of Canada dropped their target price on shares of Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating for the company in a research report on Wednesday, June 24th. UBS Group set a $327.00 price target on shares of Norfolk Southern in a research note on Thursday, May 7th. Evercore set a $325.00 price objective on shares of Norfolk Southern in a report on Friday, April 24th. Wells Fargo & Company raised their price objective on Norfolk Southern from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings cut Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of “Hold” and an average price target of $329.35.
Norfolk Southern Trading Down 1.5%
NSC stock opened at $335.11 on Tuesday. The firm has a fifty day moving average price of $315.26 and a 200 day moving average price of $304.81. Norfolk Southern Corporation has a fifty-two week low of $268.23 and a fifty-two week high of $342.53. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The firm has a market cap of $75.26 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 6.22 and a beta of 1.27.
Norfolk Southern (NYSE:NSC – Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm earned $2.69 earnings per share. Norfolk Southern’s revenue was up .2% on a year-over-year basis. Sell-side analysts anticipate that Norfolk Southern Corporation will post 12.24 earnings per share for the current fiscal year.
Norfolk Southern Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $1.35 dividend. The ex-dividend date was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. Norfolk Southern’s payout ratio is 45.49%.
About Norfolk Southern
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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