Allstate Corp Boosts Stock Position in Norfolk Southern Corporation $NSC

Allstate Corp boosted its holdings in Norfolk Southern Corporation (NYSE:NSC) by 107.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,475 shares of the railroad operator’s stock after buying an additional 8,531 shares during the quarter. Allstate Corp’s holdings in Norfolk Southern were worth $4,757,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Gilbert & Cook Inc. increased its holdings in Norfolk Southern by 1.4% in the fourth quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator’s stock valued at $726,000 after buying an additional 35 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its holdings in shares of Norfolk Southern by 4.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock worth $228,000 after purchasing an additional 35 shares during the last quarter. Confluence Wealth Services Inc. grew its holdings in shares of Norfolk Southern by 1.1% during the fourth quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock worth $892,000 after purchasing an additional 35 shares during the last quarter. Exencial Wealth Advisors LLC grew its holdings in shares of Norfolk Southern by 1.1% during the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock worth $929,000 after purchasing an additional 35 shares during the last quarter. Finally, Quotient Wealth Partners LLC grew its holdings in shares of Norfolk Southern by 4.5% during the fourth quarter. Quotient Wealth Partners LLC now owns 864 shares of the railroad operator’s stock worth $250,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC opened at $320.28 on Wednesday. Norfolk Southern Corporation has a fifty-two week low of $241.12 and a fifty-two week high of $323.37. The company has a market capitalization of $71.93 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 5.81 and a beta of 1.30. The firm has a 50-day simple moving average of $301.70 and a 200-day simple moving average of $297.78. 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 (NYSE:NSC) last announced its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm earned $2.69 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Norfolk Southern Corporation will post 12.11 earnings per share for the current year.

Norfolk Southern Dividend Announcement

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

Analyst Ratings Changes

NSC has been the topic of several research reports. Susquehanna raised their price objective on Norfolk Southern from $305.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. dropped their price objective on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Rothschild & Co Redburn raised their price objective on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Robert W. Baird raised their price objective on Norfolk Southern from $315.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $319.83.

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.