DNB Asset Management AS Trims Stake in Norfolk Southern Corporation $NSC

DNB Asset Management AS reduced its stake in Norfolk Southern Corporation (NYSE:NSC) by 10.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 48,089 shares of the railroad operator’s stock after selling 5,912 shares during the quarter. DNB Asset Management AS’s holdings in Norfolk Southern were worth $13,884,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of NSC. Cullen Capital Management LLC boosted its position in shares of Norfolk Southern by 31.8% in the 3rd quarter. Cullen Capital Management LLC now owns 121,351 shares of the railroad operator’s stock worth $36,455,000 after purchasing an additional 29,264 shares in the last quarter. Markel Group Inc. lifted its position in Norfolk Southern by 8.5% during the 3rd quarter. Markel Group Inc. now owns 256,500 shares of the railroad operator’s stock worth $77,055,000 after acquiring an additional 20,000 shares during the period. Picton Mahoney Asset Management acquired a new stake in Norfolk Southern during the 3rd quarter worth about $24,033,000. AlphaQuest LLC acquired a new stake in Norfolk Southern during the 3rd quarter worth about $2,165,000. Finally, Principal Financial Group Inc. lifted its position in Norfolk Southern by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 250,186 shares of the railroad operator’s stock worth $75,158,000 after acquiring an additional 2,049 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NSC. TD Cowen lifted their price target on Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Argus raised Norfolk Southern to a “hold” rating in a research report on Wednesday, February 25th. Rothschild & Co Redburn lifted their price target on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Susquehanna lifted their price target on Norfolk Southern from $305.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Six equities research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $319.83.

Norfolk Southern Stock Performance

NYSE NSC opened at $316.85 on Monday. The stock has a 50-day simple moving average of $299.40 and a two-hundred day simple moving average of $296.12. The firm has a market capitalization of $71.16 billion, a P/E ratio of 26.69, a PEG ratio of 5.84 and a beta of 1.30. Norfolk Southern Corporation has a fifty-two week low of $236.37 and a fifty-two week high of $323.37. 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 released its quarterly earnings data 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. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $2.69 EPS. On average, equities analysts forecast that Norfolk Southern Corporation will post 12.11 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

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.