Commerzbank Aktiengesellschaft FI Has $533,000 Holdings in Norfolk Southern Corporation $NSC

Commerzbank Aktiengesellschaft FI reduced its stake in Norfolk Southern Corporation (NYSE:NSC) by 66.9% during the 1st quarter, HoldingsChannel reports. The fund owned 1,858 shares of the railroad operator’s stock after selling 3,750 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Norfolk Southern were worth $533,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new stake in shares of Norfolk Southern in the 3rd quarter valued at about $25,000. BNP Paribas acquired a new position in shares of Norfolk Southern during the second quarter worth about $26,000. Meeder Asset Management Inc. boosted its position in shares of Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after buying an additional 67 shares during the period. Financial Life Planners bought a new position in shares of Norfolk Southern during the first quarter worth about $33,000. Finally, Bayban bought a new position in shares of Norfolk Southern during the fourth quarter worth about $34,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

NYSE:NSC opened at $331.52 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The stock’s 50-day simple moving average is $316.07 and its 200 day simple moving average is $305.42. The company has a market cap of $74.46 billion, a P/E ratio of 27.93, a P/E/G ratio of 6.06 and a beta of 1.27. Norfolk Southern Corporation has a 52-week low of $268.23 and a 52-week high of $342.53.

Norfolk Southern (NYSE:NSC) last released its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the company posted $2.69 earnings per share. Norfolk Southern’s revenue was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Norfolk Southern Corporation will post 12.24 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. Norfolk Southern’s dividend payout ratio is currently 45.49%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NSC. Wolfe Research lifted their target price on Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. Rothschild & Co Redburn raised their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada lowered their price objective on shares of Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a report on Wednesday, June 24th. TD Cowen lifted their price objective on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Weiss Ratings cut shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $329.35.

About Norfolk Southern

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.