Prio Wealth Limited Partnership trimmed its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,631 shares of the railroad operator’s stock after selling 70 shares during the period. Prio Wealth Limited Partnership’s holdings in Norfolk Southern were worth $842,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of NSC. Oregon Public Employees Retirement Fund grew its holdings in Norfolk Southern by 14,153.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,774,792 shares of the railroad operator’s stock worth $152,000 after acquiring an additional 22,615,008 shares during the period. Capital International Investors grew its holdings in Norfolk Southern by 47.1% during the third quarter. Capital International Investors now owns 7,020,157 shares of the railroad operator’s stock worth $1,267,138,000 after acquiring an additional 2,249,296 shares during the period. Packer & Co Ltd grew its holdings in Norfolk Southern by 597.3% during the fourth quarter. Packer & Co Ltd now owns 1,239,800 shares of the railroad operator’s stock worth $26,588,000 after acquiring an additional 1,062,000 shares during the period. FMR LLC grew its holdings in Norfolk Southern by 14.8% during the third quarter. FMR LLC now owns 8,080,231 shares of the railroad operator’s stock worth $1,458,480,000 after acquiring an additional 1,043,444 shares during the period. Finally, Swedbank acquired a new stake in Norfolk Southern during the fourth quarter worth about $127,592,000. 81.25% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on NSC shares. Credit Suisse Group dropped their target price on Norfolk Southern from $188.00 to $187.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Zacks Investment Research lowered Norfolk Southern from a “buy” rating to a “hold” rating in a report on Tuesday, December 11th. TD Securities raised their target price on Norfolk Southern from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday. Loop Capital raised Norfolk Southern from a “hold” rating to a “buy” rating and raised their target price for the stock from $179.00 to $190.00 in a report on Wednesday, October 24th. Finally, Argus reaffirmed a “buy” rating on shares of Norfolk Southern in a report on Thursday, January 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $182.32.
Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, January 24th. The railroad operator reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.27. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.85 billion. Norfolk Southern had a return on equity of 16.71% and a net margin of 23.27%. Norfolk Southern’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.69 earnings per share. On average, research analysts predict that Norfolk Southern Corp. will post 10.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Monday, February 4th will be given a dividend of $0.86 per share. The ex-dividend date is Friday, February 1st. This represents a $3.44 dividend on an annualized basis and a yield of 1.91%. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.80. Norfolk Southern’s dividend payout ratio is currently 36.17%.
About Norfolk Southern
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.
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