IFM Investors Pty Ltd Decreases Position in Norfolk Southern Corporation $NSC

IFM Investors Pty Ltd lowered its stake in Norfolk Southern Corporation (NYSE:NSC) by 8.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,954 shares of the railroad operator’s stock after selling 4,779 shares during the quarter. IFM Investors Pty Ltd’s holdings in Norfolk Southern were worth $14,624,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Capricorn Fund Managers Ltd raised its stake in shares of Norfolk Southern by 144.5% during the first quarter. Capricorn Fund Managers Ltd now owns 61,117 shares of the railroad operator’s stock valued at $17,541,000 after purchasing an additional 36,117 shares during the period. Bayban boosted its stake in shares of Norfolk Southern by 842.7% in the first quarter. Bayban now owns 1,103 shares of the railroad operator’s stock valued at $317,000 after purchasing an additional 986 shares during the period. Premier Path Wealth Partners LLC grew its holdings in Norfolk Southern by 24.4% during the 1st quarter. Premier Path Wealth Partners LLC now owns 1,416 shares of the railroad operator’s stock valued at $406,000 after purchasing an additional 278 shares in the last quarter. Moss Adams Wealth Advisors LLC increased its stake in Norfolk Southern by 4.6% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator’s stock worth $237,000 after buying an additional 36 shares during the period. Finally, 3Chopt Investment Partners LLC lifted its holdings in Norfolk Southern by 2.4% in the 1st quarter. 3Chopt Investment Partners LLC now owns 10,613 shares of the railroad operator’s stock worth $3,046,000 after buying an additional 248 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Rothschild & Co Redburn upped their target price on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Citigroup reiterated a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. UBS Group set a $327.00 price target on shares of Norfolk Southern in a research report on Thursday, May 7th. Finally, Sanford C. Bernstein cut their price target on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Six analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $320.35.

Norfolk Southern Trading Up 1.5%

Norfolk Southern stock opened at $319.29 on Thursday. The firm’s 50-day moving average is $311.61 and its 200-day moving average is $301.67. 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 Corporation has a 1 year low of $257.49 and a 1 year high of $326.00. The company has a market cap of $71.71 billion, a P/E ratio of 26.90, a PEG ratio of 5.81 and a beta of 1.27.

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, 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 firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the business earned $2.69 earnings per share. Norfolk Southern’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts expect that Norfolk Southern Corporation will post 12.12 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared 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 dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is 45.49%.

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.