State of Alaska Department of Revenue Has $6.42 Million Stake in Norfolk Southern Corporation $NSC

State of Alaska Department of Revenue trimmed its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,226 shares of the railroad operator’s stock after selling 2,305 shares during the period. State of Alaska Department of Revenue’s holdings in Norfolk Southern were worth $6,417,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NSC. ORG Partners LLC increased its stake in Norfolk Southern by 75.0% in the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after buying an additional 36 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in Norfolk Southern in the 3rd quarter valued at $25,000. Westside Investment Management Inc. increased its stake in Norfolk Southern by 207.1% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after buying an additional 58 shares during the last quarter. BNP Paribas acquired a new stake in Norfolk Southern in the 2nd quarter valued at $26,000. Finally, GoalVest Advisory LLC increased its stake in Norfolk Southern by 933.3% in the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after buying an additional 84 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on NSC. Evercore lifted their price target on shares of Norfolk Southern from $298.00 to $299.00 in a research note on Thursday, December 18th. JPMorgan Chase & Co. lowered their price target on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. TD Cowen lowered their price target on shares of Norfolk Southern from $314.00 to $313.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Zacks Research upgraded shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Wolfe Research lifted their price target on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. Seven investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $308.78.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $299.67 on Wednesday. The company has a market capitalization of $73.37 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 5.45 and a beta of 1.31. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85. The company has a 50-day simple moving average of $300.42 and a 200 day simple moving average of $293.28. Norfolk Southern Corporation has a 52 week low of $212.24 and a 52 week high of $319.94.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, topping the consensus estimate of $2.76 by $0.46. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. Norfolk Southern’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.04 EPS. On average, sell-side analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. Norfolk Southern’s payout ratio is presently 42.35%.

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.