Magnetar Financial LLC Decreases Stock Position in Norfolk Southern Corporation $NSC

Magnetar Financial LLC reduced its position in Norfolk Southern Corporation (NYSE:NSC) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 343,984 shares of the railroad operator’s stock after selling 14,346 shares during the quarter. Norfolk Southern makes up about 1.0% of Magnetar Financial LLC’s investment portfolio, making the stock its 5th largest holding. Magnetar Financial LLC’s holdings in Norfolk Southern were worth $99,315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. JPL Wealth Management LLC bought a new position in Norfolk Southern in the 3rd quarter worth $25,000. BNP Paribas purchased a new position in shares of Norfolk Southern in the second quarter valued at about $26,000. GoalVest Advisory LLC boosted its stake in shares of Norfolk Southern by 933.3% in the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 84 shares during the period. Meeder Asset Management Inc. grew 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 purchasing an additional 67 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its stake in Norfolk Southern by 669.2% during the 3rd quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock valued at $30,000 after purchasing an additional 87 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of research analyst reports. Sanford C. Bernstein cut their price objective on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Citigroup reiterated a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Evercore set a $325.00 price objective on Norfolk Southern in a research report on Friday, April 24th. Zacks Research upgraded Norfolk Southern from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Susquehanna raised their price target on Norfolk Southern from $330.00 to $337.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $322.71.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $310.80 on Wednesday. The firm has a fifty day simple moving average of $309.24 and a two-hundred day simple moving average of $300.49. Norfolk Southern Corporation has a 52 week low of $249.39 and a 52 week high of $326.00. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $69.80 billion, a P/E ratio of 26.18, a PEG ratio of 5.73 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the company earned $2.69 EPS. The business’s revenue was up .2% compared to the same quarter last year. On average, analysts expect that Norfolk Southern Corporation will post 12.12 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a dividend of $1.35 per share. The ex-dividend date was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern’s dividend payout ratio is 45.49%.

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.