First Republic Investment Management Inc. decreased its holdings in Norfolk Southern Corp. (NYSE:NSC) by 1.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 66,000 shares of the railroad operator’s stock after selling 971 shares during the quarter. First Republic Investment Management Inc.’s holdings in Norfolk Southern were worth $12,335,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in NSC. Bruderman Asset Management LLC acquired a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $26,000. Intercontinental Wealth Advisors LLC acquired a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $27,000. Moody National Bank Trust Division acquired a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $31,000. Pinnacle Bank acquired a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $33,000. Finally, PRW Wealth Management LLC acquired a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 74.67% of the company’s stock.
NSC has been the topic of several research reports. TD Securities upped their target price on Norfolk Southern from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 12th. Citigroup upped their target price on Norfolk Southern from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Credit Suisse Group decreased their target price on Norfolk Southern from $187.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, January 7th. Morgan Stanley upped their target price on Norfolk Southern from $133.00 to $138.00 and gave the company an “underweight” rating in a research report on Monday, April 29th. Finally, Cowen reaffirmed an “outperform” rating and issued a $230.00 target price (up previously from $200.00) on shares of Norfolk Southern in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. Norfolk Southern currently has a consensus rating of “Hold” and a consensus target price of $200.06.
Shares of NYSE:NSC opened at $205.06 on Friday. The company has a market cap of $54.54 billion, a P/E ratio of 21.56, a P/E/G ratio of 1.59 and a beta of 1.44. Norfolk Southern Corp. has a 1 year low of $138.65 and a 1 year high of $211.46. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 0.67.
Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.34. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.93 earnings per share. On average, analysts anticipate that Norfolk Southern Corp. will post 10.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 3rd will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio is currently 36.17%.
About Norfolk Southern
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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