Capital World Investors Buys 109,498 Shares of Norfolk Southern Corporation $NSC

Capital World Investors grew its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 6.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,747,507 shares of the railroad operator’s stock after acquiring an additional 109,498 shares during the period. Capital World Investors owned about 0.78% of Norfolk Southern worth $504,540,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Norfolk Southern by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock valued at $6,012,836,000 after acquiring an additional 272,651 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Norfolk Southern by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock valued at $1,401,797,000 after acquiring an additional 36,205 shares in the last quarter. Norges Bank bought a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $1,084,701,000. Pentwater Capital Management LP bought a new stake in shares of Norfolk Southern during the third quarter valued at approximately $826,128,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Norfolk Southern by 5.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,179,610 shares of the railroad operator’s stock valued at $654,757,000 after acquiring an additional 118,697 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Rothschild & Co Redburn lifted 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. Royal Bank Of Canada lifted their price target on shares of Norfolk Southern from $310.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Zacks Research raised shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Robert W. Baird upped their target price on Norfolk Southern from $315.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Six investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, Norfolk Southern has an average rating of “Hold” and a consensus price target of $322.71.

Norfolk Southern Stock Up 0.1%

Norfolk Southern stock opened at $313.88 on Monday. The business has a fifty day moving average of $305.69 and a two-hundred day moving average of $299.20. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The firm has a market cap of $70.49 billion, a P/E ratio of 26.44, a P/E/G ratio of 5.79 and a beta of 1.27. Norfolk Southern Corporation has a twelve month low of $247.85 and a twelve month 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 company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.Norfolk Southern’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.69 earnings per share. On average, analysts forecast that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio is presently 45.49%.

Norfolk Southern Company 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.