Norfolk Southern Corporation $NSC Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 20.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,310,516 shares of the railroad operator’s stock after selling 337,265 shares during the period. Bank of New York Mellon Corp’s holdings in Norfolk Southern were worth $378,372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NSC. Norges Bank acquired a new position in Norfolk Southern during the fourth quarter worth approximately $1,084,701,000. Pentwater Capital Management LP acquired a new position in Norfolk Southern during the third quarter worth approximately $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Norfolk Southern by 545.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock worth $392,396,000 after acquiring an additional 1,103,748 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Norfolk Southern in the third quarter worth $329,629,000. Finally, TOMS Capital Investment Management LP acquired a new stake in shares of Norfolk Southern in the second quarter worth $181,995,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NSC shares. Rothschild & Co Redburn increased their price objective on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada increased their price objective on shares of Norfolk Southern from $310.00 to $360.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. dropped their price objective on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. TD Cowen increased their price objective on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Susquehanna increased their price objective on shares of Norfolk Southern from $305.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $322.29.

Norfolk Southern Trading Up 0.7%

NYSE:NSC opened at $307.22 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. Norfolk Southern Corporation has a one year low of $245.19 and a one year high of $326.00. The business’s 50-day simple moving average is $305.08 and its 200 day simple moving average is $298.97. The stock has a market cap of $69.00 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 5.64 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping 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 business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the firm posted $2.69 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts predict that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio (DPR) is currently 45.49%.

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.