Geode Capital Management LLC Grows Stake in Norfolk Southern Corporation $NSC

Geode Capital Management LLC raised its stake in Norfolk Southern Corporation (NYSE:NSC) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,878,029 shares of the railroad operator’s stock after acquiring an additional 36,205 shares during the quarter. Geode Capital Management LLC owned approximately 2.17% of Norfolk Southern worth $1,401,797,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new position in Norfolk Southern in the third quarter valued at about $25,000. Westside Investment Management Inc. lifted its stake in shares of Norfolk Southern by 207.1% during the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after buying an additional 58 shares in the last quarter. GoalVest Advisory LLC lifted its stake in shares of Norfolk Southern by 933.3% during the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after buying an additional 84 shares in the last quarter. MMA Asset Management LLC purchased a new stake in shares of Norfolk Southern during the 3rd quarter valued at approximately $28,000. Finally, FNY Investment Advisers LLC lifted its stake in shares of Norfolk Southern by 669.2% during the 3rd quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock valued at $30,000 after buying an additional 87 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $307.69 on Friday. The firm’s 50 day simple moving average is $302.72 and its 200 day simple moving average is $298.25. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $69.10 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 6.02 and a beta of 1.30. Norfolk Southern Corporation has a 1-year low of $241.82 and a 1-year high of $326.00.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. Norfolk Southern’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.69 EPS. As a group, analysts expect that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio is 45.49%.

Analyst Upgrades and Downgrades

NSC has been the topic of a number of recent research reports. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. Rothschild & Co Redburn upped their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein dropped their price target on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. TD Cowen upped their price target on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Barclays upped their price target on shares of Norfolk Southern from $320.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $319.83.

Norfolk Southern 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.