Massachusetts Financial Services Co. MA Purchases Shares of 524,160 Norfolk Southern Co. (NYSE:NSC)

Massachusetts Financial Services Co. MA acquired a new stake in Norfolk Southern Co. (NYSE:NSCFree Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 524,160 shares of the railroad operator’s stock, valued at approximately $103,223,000. Massachusetts Financial Services Co. MA owned 0.23% of Norfolk Southern as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NSC. First Command Advisory Services Inc. acquired a new stake in Norfolk Southern during the third quarter worth approximately $189,000. Milestone Investment Advisors LLC bought a new stake in Norfolk Southern during the third quarter worth about $48,000. Pinnacle West Asset Management Inc. grew its stake in Norfolk Southern by 6.1% during the third quarter. Pinnacle West Asset Management Inc. now owns 3,820 shares of the railroad operator’s stock worth $752,000 after buying an additional 220 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Norfolk Southern in the 3rd quarter valued at about $22,394,000. Finally, New York Life Investment Management LLC boosted its position in shares of Norfolk Southern by 0.4% during the 3rd quarter. New York Life Investment Management LLC now owns 32,454 shares of the railroad operator’s stock worth $6,391,000 after acquiring an additional 129 shares in the last quarter. Institutional investors and hedge funds own 72.37% of the company’s stock.

Norfolk Southern Stock Down 0.5 %

Norfolk Southern stock opened at $250.55 on Thursday. The firm has a market cap of $56.59 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 4.38 and a beta of 1.30. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $255.80. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.14 and a current ratio of 1.24. The firm has a 50 day moving average price of $233.45 and a two-hundred day moving average price of $215.72.

Norfolk Southern (NYSE:NSCGet Free Report) last released its earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.04). Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the firm earned $3.42 EPS. Norfolk Southern’s quarterly revenue was down 4.2% on a year-over-year basis. Equities analysts predict that Norfolk Southern Co. will post 12.25 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Friday, February 2nd will be paid a dividend of $1.35 per share. The ex-dividend date is Thursday, February 1st. This represents a $5.40 annualized dividend and a yield of 2.16%. Norfolk Southern’s dividend payout ratio is currently 67.33%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NSC. Stifel Nicolaus cut Norfolk Southern from a “buy” rating to a “hold” rating and cut their target price for the stock from $250.00 to $233.00 in a research note on Monday, January 29th. TheStreet upgraded Norfolk Southern from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. JPMorgan Chase & Co. dropped their target price on shares of Norfolk Southern from $238.00 to $237.00 and set an “overweight” rating for the company in a report on Tuesday, January 9th. Bank of America raised shares of Norfolk Southern from a “neutral” rating to a “buy” rating and lifted their price target for the company from $204.00 to $248.00 in a report on Friday, December 1st. Finally, Citigroup dropped their price objective on shares of Norfolk Southern from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $235.35.

Get Our Latest Stock Analysis on Norfolk Southern

About Norfolk Southern

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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