Corient Private Wealth LLC Increases Stock Position in Norfolk Southern Corporation $NSC

Corient Private Wealth LLC boosted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 5.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 92,032 shares of the railroad operator’s stock after acquiring an additional 4,926 shares during the quarter. Corient Private Wealth LLC’s holdings in Norfolk Southern were worth $26,572,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Picton Mahoney Asset Management purchased a new position in shares of Norfolk Southern during the third quarter worth $24,033,000. Primecap Management Co. CA raised its holdings in shares of Norfolk Southern by 7.9% in the 3rd quarter. Primecap Management Co. CA now owns 1,132,583 shares of the railroad operator’s stock valued at $340,239,000 after buying an additional 82,500 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in shares of Norfolk Southern by 9.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock valued at $12,533,000 after buying an additional 3,887 shares during the period. Elo Mutual Pension Insurance Co lifted its stake in Norfolk Southern by 11.7% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 15,143 shares of the railroad operator’s stock worth $4,549,000 after acquiring an additional 1,587 shares in the last quarter. Finally, Farallon Capital Management LLC acquired a new position in Norfolk Southern during the 3rd quarter worth about $184,752,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $303.66 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The company has a market cap of $68.20 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 5.54 and a beta of 1.27. The stock’s 50-day moving average is $309.99 and its two-hundred day moving average is $300.77. Norfolk Southern Corporation has a 1-year low of $251.62 and a 1-year high of $326.00.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the business posted $2.69 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. Analysts forecast that Norfolk Southern Corporation will post 12.12 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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 $1.35 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 annualized dividend and a yield of 1.8%. Norfolk Southern’s dividend payout ratio (DPR) is 45.49%.

Wall Street Analyst Weigh In

NSC has been the subject of several research reports. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Wolfe Research increased their price target on shares of Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 7th. Barclays raised their price objective 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. Argus raised shares of Norfolk Southern to a “hold” rating in a research note on Wednesday, February 25th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Six equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.