Norfolk Southern Corporation $NSC Position Cut by DNB Asset Management AS

DNB Asset Management AS lowered its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 25.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 54,001 shares of the railroad operator’s stock after selling 18,034 shares during the period. DNB Asset Management AS’s holdings in Norfolk Southern were worth $16,222,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Norfolk Southern by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 20,561,273 shares of the railroad operator’s stock valued at $5,263,069,000 after purchasing an additional 239,914 shares during the period. Dodge & Cox increased its stake in shares of Norfolk Southern by 1.8% in the second quarter. Dodge & Cox now owns 10,859,121 shares of the railroad operator’s stock valued at $2,779,609,000 after purchasing an additional 192,567 shares during the period. Geode Capital Management LLC raised its holdings in shares of Norfolk Southern by 0.8% during the second quarter. Geode Capital Management LLC now owns 4,822,075 shares of the railroad operator’s stock valued at $1,228,064,000 after buying an additional 36,362 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Norfolk Southern by 4.6% during the second quarter. EdgePoint Investment Group Inc. now owns 4,182,921 shares of the railroad operator’s stock valued at $1,070,702,000 after buying an additional 184,586 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Norfolk Southern by 6.5% during the second quarter. Lazard Asset Management LLC now owns 3,289,431 shares of the railroad operator’s stock worth $841,994,000 after buying an additional 201,861 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $314.01 on Friday. The company has a 50-day moving average of $297.95 and a 200-day moving average of $290.42. The firm has a market cap of $70.52 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 5.64 and a beta of 1.34. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $319.94.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, beating the consensus estimate of $2.76 by $0.46. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.04 earnings per share. Analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were paid 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 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is currently 42.35%.

Insider Buying and Selling at Norfolk Southern

In related news, Director William Jr. Clyburn bought 204 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were acquired at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the acquisition, the director directly owned 405 shares of the company’s stock, valued at $119,389.95. The trade was a 101.49% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Norfolk Southern in a research report on Thursday, January 22nd. Barclays decreased their price target on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. JPMorgan Chase & Co. reduced their price objective on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Finally, Evercore increased their target price on shares of Norfolk Southern from $298.00 to $299.00 in a research report on Thursday, December 18th. Seven investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $304.47.

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.