65,676 Norfolk Southern Corporation $NSC Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 5.5% during the third quarter, Holdings Channel.com reports. The fund owned 1,266,125 shares of the railroad operator’s stock after acquiring an additional 65,676 shares during the period. Fisher Asset Management LLC’s holdings in Norfolk Southern were worth $391,233,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of NSC. BlackRock Inc. acquired a new position in shares of Norfolk Southern during the second quarter valued at about $5,033,549,000. Bank of America Corp DE purchased a new stake in Norfolk Southern during the 2nd quarter worth approximately $978,977,000. Legal & General Group Plc purchased a new stake in Norfolk Southern during the 2nd quarter worth approximately $503,093,000. Bank of New York Mellon Corp acquired a new position in Norfolk Southern during the 2nd quarter valued at approximately $364,414,000. Finally, Deutsche Bank AG acquired a new position in Norfolk Southern during the 2nd quarter valued at approximately $356,558,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NSC shares. Weiss Ratings raised shares of Norfolk Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. Evercore lifted their price objective on shares of Norfolk Southern from $358.00 to $360.00 in a research note on Wednesday, September 30th. Barclays boosted their price objective on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Susquehanna cut their target price on Norfolk Southern from $386.00 to $350.00 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Finally, Royal Bank Of Canada raised their target price on Norfolk Southern from $330.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Friday, October 23rd. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $348.81.

Norfolk Southern Stock Performance

NYSE NSC opened at $333.12 on Friday. The firm has a market capitalization of $74.83 billion, a P/E ratio of 27.92, a PEG ratio of 4.90 and a beta of 1.20. The stock has a 50-day simple moving average of $324.11 and a two-hundred day simple moving average of $316.92. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.90. Norfolk Southern Corporation has a fifty-two week low of $277.80 and a fifty-two week high of $358.60.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.16. Norfolk Southern had a net margin of 20.70% and a return on equity of 18.22%. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same period in the previous year, the firm earned $3.30 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. On average, equities analysts forecast that Norfolk Southern Corporation will post 12.90 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, November 6th. Norfolk Southern’s dividend payout ratio (DPR) is presently 45.26%.

About Norfolk Southern

Norfolk Southern Corporation is a freight transportation company that operates a major railroad network across the eastern United States. Its rail services connect businesses, ports and communities, and link with other railroads to move goods across North America. The company transports a broad range of products, including coal, chemicals, agricultural goods, automotive vehicles and parts, metals, construction materials and consumer products. Its services include intermodal transportation, which combines rail with truck or container shipping, as well as rail freight and logistics solutions.