Whitener Capital Management Inc. trimmed its holdings in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,606 shares of the railroad operator’s stock after selling 190 shares during the quarter. Whitener Capital Management Inc.’s holdings in Norfolk Southern were worth $1,725,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its position in Norfolk Southern by 95,518.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,028,232 shares of the railroad operator’s stock worth $746,217,000 after purchasing an additional 3,025,065 shares during the last quarter. Norges Bank acquired a new stake in Norfolk Southern during the fourth quarter worth about $537,007,000. Price T Rowe Associates Inc. MD increased its stake in Norfolk Southern by 86.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,724,821 shares of the railroad operator’s stock valued at $671,451,000 after acquiring an additional 1,265,666 shares during the period. First Trust Advisors LP raised its holdings in Norfolk Southern by 221.8% in the 1st quarter. First Trust Advisors LP now owns 1,124,545 shares of the railroad operator’s stock valued at $238,404,000 after acquiring an additional 775,059 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Norfolk Southern by 33.5% in the 4th quarter. Morgan Stanley now owns 2,546,214 shares of the railroad operator’s stock worth $627,438,000 after acquiring an additional 638,384 shares during the period. 72.37% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
NSC has been the subject of several analyst reports. Royal Bank of Canada raised their target price on Norfolk Southern from $210.00 to $227.00 in a research report on Friday, July 28th. TD Cowen upped their target price on shares of Norfolk Southern from $243.00 to $253.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Bank of America lifted their price target on shares of Norfolk Southern from $226.00 to $253.00 in a report on Tuesday, July 11th. Citigroup raised shares of Norfolk Southern from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $226.00 to $257.00 in a research note on Monday, May 22nd. Finally, Stifel Nicolaus lifted their target price on shares of Norfolk Southern from $242.00 to $262.00 in a research note on Monday, July 17th. Thirteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $245.40.
Norfolk Southern Trading Down 2.0 %
Shares of NSC stock traded down $4.05 on Tuesday, reaching $200.08. The company had a trading volume of 525,892 shares, compared to its average volume of 1,420,278. The stock has a market cap of $45.42 billion, a PE ratio of 18.36, a PEG ratio of 2.44 and a beta of 1.29. The company has a 50-day moving average of $218.15 and a 200-day moving average of $214.58. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.15. Norfolk Southern Co. has a 12 month low of $194.05 and a 12 month high of $261.71.
Norfolk Southern (NYSE:NSC – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The railroad operator reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.20). The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 20.25% and a return on equity of 24.88%. Norfolk Southern’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period last year, the firm earned $3.45 EPS. On average, equities analysts forecast that Norfolk Southern Co. will post 12.55 earnings per share for the current year.
Norfolk Southern Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Friday, August 4th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, August 3rd. Norfolk Southern’s dividend payout ratio (DPR) is presently 48.56%.
About Norfolk Southern
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.
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