Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 34.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,583 shares of the railroad operator’s stock after acquiring an additional 3,454 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Norfolk Southern were worth $1,983,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in NSC. RFG Advisory LLC raised its stake in shares of Norfolk Southern by 32.5% during the fourth quarter. RFG Advisory LLC now owns 1,705 shares of the railroad operator’s stock valued at $331,000 after acquiring an additional 418 shares during the last quarter. Savior LLC bought a new position in shares of Norfolk Southern during the fourth quarter valued at $30,000. Global Retirement Partners LLC raised its stake in shares of Norfolk Southern by 3.3% during the fourth quarter. Global Retirement Partners LLC now owns 1,673 shares of the railroad operator’s stock valued at $325,000 after acquiring an additional 54 shares during the last quarter. J.W. Cole Advisors Inc. bought a new position in shares of Norfolk Southern during the fourth quarter valued at $399,000. Finally, Country Club Trust Company n.a. raised its stake in shares of Norfolk Southern by 1.2% during the fourth quarter. Country Club Trust Company n.a. now owns 4,733 shares of the railroad operator’s stock valued at $916,000 after acquiring an additional 55 shares during the last quarter. 72.51% of the stock is owned by hedge funds and other institutional investors.
Shares of NSC stock opened at $171.47 on Friday. Norfolk Southern Corp. has a 1 year low of $112.62 and a 1 year high of $219.88. The stock has a market cap of $43.69 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38. The business’s fifty day moving average is $161.52 and its 200-day moving average is $181.86. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.78 and a current ratio of 0.90.
Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, April 29th. The railroad operator reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.33. Norfolk Southern had a return on equity of 18.12% and a net margin of 21.89%. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the firm earned $2.51 EPS. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. Equities research analysts predict that Norfolk Southern Corp. will post 8.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Thursday, May 7th. Norfolk Southern’s payout ratio is 36.36%.
Several equities analysts have recently issued reports on NSC shares. TD Securities raised their price target on shares of Norfolk Southern from $145.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Stifel Nicolaus initiated coverage on shares of Norfolk Southern in a research note on Monday, April 6th. They set a “hold” rating and a $163.00 target price for the company. Citigroup lifted their price objective on shares of Norfolk Southern from $150.00 to $196.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Stephens boosted their target price on shares of Norfolk Southern from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed a “sell” rating and issued a $140.00 target price on shares of Norfolk Southern in a research report on Sunday, April 12th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. Norfolk Southern presently has an average rating of “Hold” and a consensus price target of $189.73.
About Norfolk Southern
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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