Fifth Third Bancorp trimmed its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 3.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 279,381 shares of the railroad operator’s stock after selling 10,026 shares during the period. Fifth Third Bancorp owned approximately 0.10% of Norfolk Southern worth $50,428,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in NSC. FMR LLC boosted its stake in shares of Norfolk Southern by 14.8% in the 3rd quarter. FMR LLC now owns 8,080,231 shares of the railroad operator’s stock valued at $1,458,480,000 after purchasing an additional 1,043,444 shares in the last quarter. FIL Ltd boosted its stake in shares of Norfolk Southern by 8,233.6% in the 3rd quarter. FIL Ltd now owns 842,360 shares of the railroad operator’s stock valued at $152,046,000 after purchasing an additional 832,252 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Norfolk Southern by 196.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 725,813 shares of the railroad operator’s stock valued at $109,503,000 after purchasing an additional 481,013 shares in the last quarter. PointState Capital LP acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at approximately $63,296,000. Finally, Park Presidio Capital LLC acquired a new stake in shares of Norfolk Southern in the 3rd quarter valued at approximately $54,150,000. Hedge funds and other institutional investors own 72.97% of the company’s stock.
NYSE:NSC opened at $156.99 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.75 and a current ratio of 0.86. Norfolk Southern Corp. has a one year low of $127.79 and a one year high of $186.91. The company has a market cap of $44.17 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 1.46 and a beta of 1.33.
Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, October 24th. The railroad operator reported $2.52 EPS for the quarter, topping the consensus estimate of $2.44 by $0.08. Norfolk Southern had a net margin of 52.82% and a return on equity of 15.12%. The business had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the company earned $1.75 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. On average, analysts expect that Norfolk Southern Corp. will post 9.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 2nd will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $3.20 annualized dividend and a yield of 2.04%. Norfolk Southern’s dividend payout ratio is presently 48.41%.
In related news, COO Michael Joseph Wheeler sold 801 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $172.55, for a total transaction of $138,212.55. Following the sale, the chief operating officer now directly owns 9,406 shares in the company, valued at approximately $1,623,005.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.36% of the stock is owned by company insiders.
A number of research firms have recently weighed in on NSC. Zacks Investment Research upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a research note on Monday, October 8th. Loop Capital raised their price target on shares of Norfolk Southern to $179.00 and gave the company a “hold” rating in a research note on Thursday, August 16th. Stifel Nicolaus upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $189.00 price target on the stock in a research note on Wednesday, October 24th. Morgan Stanley raised their price target on shares of Norfolk Southern from $112.00 to $116.00 and gave the company a “sell” rating in a research note on Tuesday, October 9th. Finally, Robert W. Baird reduced their price target on shares of Norfolk Southern from $186.00 to $181.00 and set a “neutral” rating on the stock in a research note on Thursday, October 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $176.11.
Norfolk Southern Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.
See Also: Debt-To-Equity Ratio
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