Norfolk Southern Corporation $NSC Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP reduced its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 42.7% during the fourth quarter, HoldingsChannel reports. The firm owned 8,558 shares of the railroad operator’s stock after selling 6,386 shares during the quarter. Aigen Investment Management LP’s holdings in Norfolk Southern were worth $2,471,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NSC. Norges Bank acquired a new position in shares of Norfolk Southern during the fourth quarter worth $1,084,701,000. Pentwater Capital Management LP acquired a new position in shares of Norfolk Southern during the third quarter worth $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Norfolk Southern by 545.2% during 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 purchasing an additional 1,103,748 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Norfolk Southern during the third quarter worth $329,629,000. Finally, TOMS Capital Investment Management LP bought a new stake in shares of Norfolk Southern in the second quarter worth $181,995,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Up 1.1%

Norfolk Southern stock opened at $314.05 on Friday. The company has a 50-day simple moving average of $308.35 and a 200-day simple moving average of $300.08. The firm has a market capitalization of $70.53 billion, a P/E ratio of 26.46, a P/E/G ratio of 5.79 and a beta of 1.27. 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 $247.85 and a one year high of $326.00.

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. The business had revenue of $3 billion during 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%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.69 earnings per share. As a group, equities analysts expect that Norfolk Southern Corporation will post 12.12 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. BMO Capital Markets lifted their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. TD Cowen lifted their price target on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Citigroup restated a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Finally, Weiss Ratings lowered shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Norfolk Southern has an average rating of “Hold” and a consensus price target of $322.71.

About Norfolk Southern

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.