United Bank Trims Holdings in Norfolk Southern Corporation $NSC

United Bank cut its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 39.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,015 shares of the railroad operator’s stock after selling 4,561 shares during the quarter. United Bank’s holdings in Norfolk Southern were worth $2,013,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Norfolk Southern in the 4th quarter worth about $1,084,701,000. Pentwater Capital Management LP bought a new position in Norfolk Southern in the third quarter worth about $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Norfolk Southern by 545.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock worth $392,396,000 after buying an additional 1,103,748 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Norfolk Southern in the third quarter worth about $329,629,000. Finally, HBK Investments L P lifted its holdings in Norfolk Southern by 67.7% in the fourth quarter. HBK Investments L P now owns 2,130,000 shares of the railroad operator’s stock worth $614,974,000 after buying an additional 860,000 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern News Summary

Here are the key news stories impacting Norfolk Southern this week:

• Positive Sentiment: Robert W. Baird raised its price target on Norfolk Southern from $330 to $360, signaling more upside potential even though the firm kept a neutral rating. Benzinga report
• Positive Sentiment: Stephens upgraded Norfolk Southern to hold, a modestly more favorable stance that can support sentiment around the stock. Tickerreport.com article
• Neutral Sentiment: A Globe and Mail roundup noted that analyst views on Norfolk Southern are mixed, reinforcing that investors are balancing optimism on valuation with caution on near-term fundamentals. The Globe and Mail article
• Neutral Sentiment: JPMorgan lowered its price target from $331 to $316 and kept a neutral rating, suggesting limited upside from current levels and some pressure on sentiment. Benzinga report
• Negative Sentiment: Unusual options activity showed a surge in put buying, which can indicate that some traders are positioning for downside or hedging against short-term weakness. Options trading report

Norfolk Southern Stock Up 1.2%

Shares of NYSE NSC traded up $3.83 on Friday, reaching $327.60. 636,072 shares of the company’s stock traded hands, compared to its average volume of 981,612. Norfolk Southern Corporation has a 12 month low of $257.49 and a 12 month high of $328.58. The business’s 50 day simple moving average is $313.03 and its two-hundred day simple moving average is $303.01. The company has a market cap of $73.58 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 6.03 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.69 EPS. As a group, equities research analysts forecast that Norfolk Southern Corporation will post 12.17 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s payout ratio is 45.49%.

Analysts Set New Price Targets

A number of research firms have weighed in on NSC. Wall Street Zen upgraded Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Citigroup raised their target price on Norfolk Southern from $335.00 to $351.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company lifted their price target on Norfolk Southern from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays increased their price objective on Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, BMO Capital Markets raised their price objective on Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a research report on Monday, April 27th. Seven investment analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $326.72.

Norfolk Southern 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.