Magnetar Financial LLC Has $99.32 Million Holdings in Norfolk Southern Corporation $NSC

Magnetar Financial LLC lowered its position in Norfolk Southern Corporation (NYSE:NSC) by 4.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 343,984 shares of the railroad operator’s stock after selling 14,346 shares during the period. Norfolk Southern accounts for about 1.0% of Magnetar Financial LLC’s investment portfolio, making the stock its 5th largest holding. Magnetar Financial LLC owned about 0.15% of Norfolk Southern worth $99,315,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. JPL Wealth Management LLC bought a new position in shares of Norfolk Southern in the 3rd quarter worth approximately $25,000. GoalVest Advisory LLC lifted its position in Norfolk Southern by 933.3% during the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after acquiring an additional 84 shares during the period. Meeder Asset Management Inc. lifted its position in Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after acquiring an additional 67 shares during the period. FNY Investment Advisers LLC lifted its position in Norfolk Southern by 669.2% during the 3rd quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock valued at $30,000 after acquiring an additional 87 shares during the period. Finally, BNP Paribas purchased a new position in Norfolk Southern during the 2nd quarter valued at about $26,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NYSE NSC opened at $310.80 on Wednesday. Norfolk Southern Corporation has a one year low of $249.39 and a one year high of $326.00. The stock has a 50-day moving average of $309.24 and a 200 day moving average of $300.49. The company has a market capitalization of $69.80 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 5.73 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.69 EPS. On average, sell-side analysts forecast that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s payout ratio is currently 45.49%.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Norfolk Southern from $320.00 to $360.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Susquehanna lifted their price target on shares of Norfolk Southern from $330.00 to $337.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. TD Cowen lifted their price target on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Jefferies Financial Group lowered their price target on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Finally, JPMorgan Chase & Co. dropped their target price on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Six analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $322.71.

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.