Norfolk Southern Corp. (NSC) Shares Sold by Acropolis Investment Management LLC
Acropolis Investment Management LLC lessened its holdings in Norfolk Southern Corp. (NYSE:NSC) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,062 shares of the railroad operator’s stock after selling 120 shares during the quarter. Acropolis Investment Management LLC’s holdings in Norfolk Southern were worth $946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in NSC. Oregon Public Employees Retirement Fund lifted its stake in Norfolk Southern by 14,153.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,774,792 shares of the railroad operator’s stock valued at $152,000 after purchasing an additional 22,615,008 shares during the last quarter. Norges Bank purchased a new stake in Norfolk Southern in the fourth quarter worth $400,313,000. Packer & Co Ltd raised its stake in shares of Norfolk Southern by 597.3% in the fourth quarter. Packer & Co Ltd now owns 1,239,800 shares of the railroad operator’s stock valued at $26,588,000 after buying an additional 1,062,000 shares during the period. Swedbank bought a new stake in shares of Norfolk Southern in the fourth quarter valued at $127,592,000. Finally, PointState Capital LP lifted its position in shares of Norfolk Southern by 188.1% during the 3rd quarter. PointState Capital LP now owns 1,208,627 shares of the railroad operator’s stock valued at $218,157,000 after buying an additional 789,086 shares during the last quarter. 74.39% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the company. Zacks Investment Research downgraded Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Tuesday, December 11th. TD Securities boosted their price objective on Norfolk Southern from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 12th. Citigroup upped their price objective on shares of Norfolk Southern from $200.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Credit Suisse Group cut their target price on shares of Norfolk Southern from $187.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, January 7th. Finally, Argus reiterated a “buy” rating on shares of Norfolk Southern in a research report on Thursday, January 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $190.47.
Shares of NYSE NSC opened at $192.75 on Wednesday. Norfolk Southern Corp. has a 52 week low of $129.00 and a 52 week high of $194.63. The company has a quick ratio of 0.64, a current ratio of 0.72 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $51.40 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.64 and a beta of 1.43.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, January 24th. The railroad operator reported $2.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.27. Norfolk Southern had a return on equity of 16.71% and a net margin of 23.27%. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the prior year, the business posted $1.69 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Norfolk Southern Corp. will post 10.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 4th were given a $0.86 dividend. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.80. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Friday, February 1st. Norfolk Southern’s dividend payout ratio (DPR) is 36.17%.
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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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