Capital Group Private Client Services Inc. Decreases Stake in Norfolk Southern Corporation $NSC

Capital Group Private Client Services Inc. lowered its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 79.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,614 shares of the railroad operator’s stock after selling 21,577 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Norfolk Southern were worth $1,687,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ORG Partners LLC increased its position in shares of Norfolk Southern by 75.0% during the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after acquiring an additional 36 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in Norfolk Southern by 207.1% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after acquiring an additional 58 shares during the period. BNP Paribas purchased a new position in Norfolk Southern in the second quarter worth $26,000. MMA Asset Management LLC bought a new position in Norfolk Southern in the 3rd quarter valued at $28,000. Finally, Highline Wealth Partners LLC grew its stake in Norfolk Southern by 68.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock valued at $31,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

NSC has been the topic of a number of recent analyst reports. UBS Group cut Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 target price on the stock. in a research note on Friday, February 6th. Royal Bank Of Canada reduced their price target on shares of Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating for the company in a research report on Friday, January 30th. Sanford C. Bernstein decreased their price objective on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Jefferies Financial Group lifted their price objective on shares of Norfolk Southern from $300.00 to $350.00 and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. Finally, Argus upgraded shares of Norfolk Southern to a “hold” rating in a research note on Wednesday, February 25th. Seven investment analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $308.95.

Norfolk Southern Stock Down 1.1%

Shares of NYSE NSC opened at $298.96 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The stock has a market capitalization of $67.14 billion, a PE ratio of 23.45, a P/E/G ratio of 5.46 and a beta of 1.31. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $319.94. The business’s fifty day moving average price is $300.48 and its 200-day moving average price is $291.87.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same quarter last year, the firm posted $3.04 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities research analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were paid a $1.35 dividend. The ex-dividend date was Friday, February 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. Norfolk Southern’s dividend payout ratio (DPR) is presently 42.35%.

Norfolk Southern Company 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.