Norfolk Southern Corporation $NSC Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd decreased its position in Norfolk Southern Corporation (NYSE:NSC) by 8.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 50,954 shares of the railroad operator’s stock after selling 4,779 shares during the period. IFM Investors Pty Ltd’s holdings in Norfolk Southern were worth $14,624,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NSC. Norges Bank acquired a new position in Norfolk Southern during the fourth quarter worth about $1,084,701,000. Pentwater Capital Management LP purchased a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Norfolk Southern by 545.2% during the 3rd 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 during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Norfolk Southern during the 3rd quarter valued at $329,629,000. Finally, HBK Investments L P increased its position in Norfolk Southern by 67.7% during the fourth quarter. HBK Investments L P now owns 2,130,000 shares of the railroad operator’s stock worth $614,974,000 after buying an additional 860,000 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $319.29 on Thursday. Norfolk Southern Corporation has a one year low of $257.49 and a one year high of $326.00. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The company has a 50 day moving average price of $311.61 and a 200 day moving average price of $301.67. The firm has a market capitalization of $71.71 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 5.81 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the business earned $2.69 EPS. Norfolk Southern’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts anticipate that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NSC shares. Wolfe Research boosted their price target on Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Zacks Research upgraded Norfolk Southern from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Sanford C. Bernstein cut their target price on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Susquehanna upped their target price on shares of Norfolk Southern from $330.00 to $337.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Finally, Jefferies Financial Group lowered their price target on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a report on Monday, April 6th. Six research 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, the stock currently has an average rating of “Hold” and a consensus target price of $320.35.

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.