Citizens Financial Group Inc. RI Has $1.50 Million Position in Norfolk Southern Corporation $NSC

Citizens Financial Group Inc. RI grew its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 5.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,861 shares of the railroad operator’s stock after purchasing an additional 284 shares during the period. Citizens Financial Group Inc. RI’s holdings in Norfolk Southern were worth $1,500,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its position in Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Norfolk Southern by 0.9% during the 1st quarter. Jennison Associates LLC now owns 12,886 shares of the railroad operator’s stock worth $3,052,000 after purchasing an additional 120 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Norfolk Southern by 1.0% in the 1st quarter. Private Advisor Group LLC now owns 19,907 shares of the railroad operator’s stock valued at $4,715,000 after buying an additional 205 shares during the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Norfolk Southern by 29.3% in the first quarter. Kestra Private Wealth Services LLC now owns 16,161 shares of the railroad operator’s stock valued at $3,828,000 after buying an additional 3,659 shares in the last quarter. Finally, OneAscent Financial Services LLC increased its holdings in Norfolk Southern by 102.4% during the first quarter. OneAscent Financial Services LLC now owns 4,944 shares of the railroad operator’s stock worth $1,170,000 after buying an additional 2,501 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NSC. Susquehanna increased their price target on shares of Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. Citigroup cut their target price on shares of Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price target on shares of Norfolk Southern in a report on Friday, July 25th. Barclays upped their price objective on Norfolk Southern from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Finally, BMO Capital Markets lifted their target price on Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, Norfolk Southern currently has a consensus rating of “Hold” and an average price target of $301.10.

Norfolk Southern Stock Performance

NSC opened at $281.87 on Tuesday. The business has a fifty day simple moving average of $286.96 and a 200 day simple moving average of $270.23. The company has a market capitalization of $63.25 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $302.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.01). Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the previous year, the business earned $3.25 EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. Research analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, November 7th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, November 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 41.19%.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy acquired 1,650 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was purchased at an average price of $282.97 per share, with a total value of $466,900.50. Following the acquisition, the director directly owned 12,000 shares of the company’s stock, valued at approximately $3,395,640. This trade represents a 15.94% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard H. Anderson bought 2,600 shares of the stock in a transaction dated Monday, October 27th. The shares were acquired at an average cost of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the acquisition, the director directly owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. This trade represents a 59.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is owned by insiders.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.