Norfolk Southern Corp. (NYSE:NSC) Holdings Decreased by Securian Asset Management Inc
Securian Asset Management Inc cut its holdings in Norfolk Southern Corp. (NYSE:NSC) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,743 shares of the railroad operator’s stock after selling 493 shares during the quarter. Securian Asset Management Inc’s holdings in Norfolk Southern were worth $3,758,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Coastal Bridge Advisors LLC bought a new stake in Norfolk Southern in the fourth quarter worth about $206,000. Janney Montgomery Scott LLC raised its position in Norfolk Southern by 2.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 78,600 shares of the railroad operator’s stock worth $15,259,000 after acquiring an additional 1,809 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in Norfolk Southern by 6.3% in the first quarter. First Citizens Bank & Trust Co. now owns 7,742 shares of the railroad operator’s stock worth $1,130,000 after acquiring an additional 460 shares in the last quarter. RFG Advisory LLC raised its position in Norfolk Southern by 32.5% in the fourth quarter. RFG Advisory LLC now owns 1,705 shares of the railroad operator’s stock worth $331,000 after acquiring an additional 418 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Norfolk Southern by 12.5% in the 4th quarter. Advisors Asset Management Inc. now owns 6,604 shares of the railroad operator’s stock worth $1,282,000 after purchasing an additional 732 shares in the last quarter. Hedge funds and other institutional investors own 68.44% of the company’s stock.
NSC has been the topic of a number of analyst reports. Royal Bank of Canada reissued a “sell” rating and issued a $140.00 price target on shares of Norfolk Southern in a research note on Sunday, April 12th. Barclays cut Norfolk Southern from an “equal weight” rating to an “underweight” rating and set a $150.00 price target on the stock. in a research note on Friday, April 17th. Benchmark assumed coverage on Norfolk Southern in a research note on Thursday, January 30th. They set a “hold” rating on the stock. Credit Suisse Group lifted their target price on Norfolk Southern from $182.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Finally, Morgan Stanley lifted their target price on Norfolk Southern from $116.00 to $122.00 and gave the company an “underweight” rating in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $189.23.
Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, April 29th. The railroad operator reported $2.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.25 by $0.33. Norfolk Southern had a return on equity of 18.12% and a net margin of 21.89%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the company earned $2.51 EPS. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. As a group, analysts anticipate that Norfolk Southern Corp. will post 9.1 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be issued a dividend of $0.94 per share. The ex-dividend date is Thursday, May 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.34%. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.36%.
Norfolk Southern Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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