KBC Group NV raised its position in shares of Norfolk Southern Corporation (NYSE:NSC – Free Report) by 59.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 30,435 shares of the railroad operator’s stock after purchasing an additional 11,396 shares during the quarter. KBC Group NV’s holdings in Norfolk Southern were worth $8,735,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new stake in Norfolk Southern in the third quarter worth $25,000. Meeder Asset Management Inc. lifted its position in Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after purchasing an additional 67 shares during the last quarter. BNP Paribas purchased a new position in shares of Norfolk Southern in the 2nd quarter worth $26,000. Financial Life Planners purchased a new position in shares of Norfolk Southern in the 1st quarter worth $33,000. Finally, Bayban bought a new stake in shares of Norfolk Southern in the 4th quarter worth about $34,000. Institutional investors own 75.10% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on NSC. TD Cowen upped their target price on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Stephens upgraded Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Jefferies Financial Group reduced their price objective on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Royal Bank Of Canada decreased their price objective on Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a research report on Wednesday, June 24th. Finally, Barclays raised their price objective on Norfolk Southern from $320.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Six analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $329.35.
Norfolk Southern Stock Up 0.1%
Shares of NYSE:NSC opened at $331.52 on Thursday. The firm has a market capitalization of $74.46 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 6.06 and a beta of 1.27. The business has a 50 day simple moving average of $316.07 and a two-hundred day simple moving average of $305.42. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $342.53. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81.
Norfolk Southern (NYSE:NSC – Get Free Report) last issued its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $3.13 billion. During the same period in the prior year, the business posted $2.69 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts predict that Norfolk Southern Corporation will post 12.24 EPS for the current year.
Norfolk Southern Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be paid a $1.35 dividend. The ex-dividend date is Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. 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.
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