Strs Ohio lowered its holdings in shares of Norfolk Southern Corporation (NYSE:NSC – Free Report) by 4.6% during the first quarter, HoldingsChannel.com reports. The firm owned 61,693 shares of the railroad operator’s stock after selling 2,983 shares during the period. Strs Ohio’s holdings in Norfolk Southern were worth $17,706,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in 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 acquiring an additional 79 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Norfolk Southern by 40.4% in the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after purchasing an additional 1,855 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Norfolk Southern in the second quarter valued at about $327,000. Schnieders Capital Management LLC. increased its stake in shares of Norfolk Southern by 64.1% during the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Jump Financial LLC increased its stake in shares of Norfolk Southern by 185.1% during the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after purchasing an additional 2,979 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Susquehanna raised their price target on shares of Norfolk Southern from $330.00 to $337.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. Barclays boosted their price objective on Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Jefferies Financial Group decreased their target price on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Evercore set a $325.00 price target on Norfolk Southern in a research note on Friday, April 24th. Finally, Sanford C. Bernstein dropped their price target on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Six research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $320.35.
Norfolk Southern Trading Up 0.0%
NSC opened at $322.85 on Friday. Norfolk Southern Corporation has a 52 week low of $257.49 and a 52 week high of $326.00. 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 business has a fifty day simple moving average of $312.52 and a 200-day simple moving average of $302.00. The firm has a market cap of $72.51 billion, a P/E ratio of 27.20, a P/E/G ratio of 5.96 and a beta of 1.27.
Norfolk Southern (NYSE:NSC – Get Free Report) last posted its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business earned $2.69 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that Norfolk Southern Corporation will post 12.12 earnings per share for the current year.
Norfolk Southern Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio is currently 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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