Swiss Life Asset Management Ltd Has $7.11 Million Stake in Norfolk Southern Corporation $NSC

Swiss Life Asset Management Ltd lessened its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 14.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 23,676 shares of the railroad operator’s stock after selling 3,845 shares during the period. Swiss Life Asset Management Ltd’s holdings in Norfolk Southern were worth $7,113,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Tritonpoint Wealth LLC lifted its holdings in shares of Norfolk Southern by 3.5% during the 3rd quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock valued at $313,000 after buying an additional 35 shares during the last quarter. Massachusetts Wealth Management lifted its stake in Norfolk Southern by 0.6% in the third quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock valued at $1,798,000 after acquiring an additional 35 shares during the last quarter. ORG Partners LLC boosted its holdings in Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Inspirion Wealth Advisors LLC boosted its holdings in shares of Norfolk Southern by 1.9% during the 3rd quarter. Inspirion Wealth Advisors LLC now owns 2,008 shares of the railroad operator’s stock worth $603,000 after buying an additional 37 shares during the period. Finally, U.S. Capital Wealth Advisors LLC increased its stake in shares of Norfolk Southern by 1.8% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 2,042 shares of the railroad operator’s stock worth $613,000 after purchasing an additional 37 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on NSC shares. Barclays lowered their target price on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Jefferies Financial Group raised their price objective on shares of Norfolk Southern from $300.00 to $350.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. Susquehanna boosted their target price on shares of Norfolk Southern from $304.00 to $305.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. UBS Group cut shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 target price for the company. in a research note on Friday, February 6th. Finally, Royal Bank Of Canada decreased their price target on shares of Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating on the stock in a research report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $308.95.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $281.51 on Friday. The firm has a market capitalization of $63.22 billion, a PE ratio of 22.08, a PEG ratio of 5.07 and a beta of 1.31. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $319.94. The business’s 50 day moving average is $300.46 and its 200-day moving average is $292.36.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, January 29th. The railroad operator reported $3.22 EPS 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 firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same period last year, the business earned $3.04 earnings per share. Norfolk Southern’s quarterly revenue was down 1.7% compared to the same quarter last year. Sell-side analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, February 6th. Norfolk Southern’s payout ratio is 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.