Checchi Capital Advisers LLC lowered its stake in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,272 shares of the railroad operator’s stock after selling 83 shares during the period. Checchi Capital Advisers LLC’s holdings in Norfolk Southern were worth $742,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. American National Bank lifted its position in Norfolk Southern by 143.5% during the second quarter. American National Bank now owns 112 shares of the railroad operator’s stock valued at $25,000 after buying an additional 66 shares in the last quarter. Headlands Technologies LLC acquired a new position in Norfolk Southern during the 2nd quarter worth $26,000. Worth Asset Management LLC acquired a new position in shares of Norfolk Southern in the 1st quarter worth approximately $30,000. Nemes Rush Group LLC bought a new stake in Norfolk Southern during the second quarter valued at $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Norfolk Southern in the first quarter valued at approximately $42,000. 72.37% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on NSC shares. Susquehanna cut their target price on Norfolk Southern from $245.00 to $215.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 3rd. Barclays decreased their target price on shares of Norfolk Southern from $215.00 to $205.00 and set an “equal weight” rating for the company in a research report on Thursday, October 26th. BMO Capital Markets reduced their price objective on Norfolk Southern from $255.00 to $230.00 and set a “market perform” rating for the company in a research report on Thursday, October 26th. Citigroup cut their target price on Norfolk Southern from $235.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Finally, Morgan Stanley decreased their price target on Norfolk Southern from $174.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 26th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $237.15.
Norfolk Southern Stock Performance
Norfolk Southern stock opened at $208.34 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 0.97. The company has a market cap of $47.11 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 2.86 and a beta of 1.29. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $261.71. The firm’s 50 day simple moving average is $197.72 and its 200-day simple moving average is $211.17.
Norfolk Southern (NYSE:NSC – Get Free Report) last released its earnings results on Wednesday, October 25th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.09). Norfolk Southern had a net margin of 16.96% and a return on equity of 22.26%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. As a group, equities research analysts predict that Norfolk Southern Co. will post 11.81 EPS for the current year.
Norfolk Southern Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, November 3rd will be issued a $1.35 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.59%. Norfolk Southern’s dividend payout ratio is 59.21%.
Norfolk Southern Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.
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