Whitnell & Co. reduced its position in Norfolk Southern Corp. (NYSE:NSC) by 41.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,131 shares of the railroad operator’s stock after selling 2,899 shares during the quarter. Whitnell & Co.’s holdings in Norfolk Southern were worth $618,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NSC. Capital International Investors grew its position in Norfolk Southern by 47.1% in the 3rd quarter. Capital International Investors now owns 7,020,157 shares of the railroad operator’s stock valued at $1,267,138,000 after acquiring an additional 2,249,296 shares in the last quarter. Packer & Co Ltd grew its position in Norfolk Southern by 597.3% in the 4th quarter. Packer & Co Ltd now owns 1,239,800 shares of the railroad operator’s stock valued at $26,588,000 after acquiring an additional 1,062,000 shares in the last quarter. FMR LLC grew its position in Norfolk Southern by 14.8% in the 3rd quarter. FMR LLC now owns 8,080,231 shares of the railroad operator’s stock valued at $1,458,480,000 after acquiring an additional 1,043,444 shares in the last quarter. FIL Ltd grew its position in Norfolk Southern by 8,233.6% in the 3rd quarter. FIL Ltd now owns 842,360 shares of the railroad operator’s stock valued at $152,046,000 after acquiring an additional 832,252 shares in the last quarter. Finally, PointState Capital LP grew its position in Norfolk Southern by 188.1% in the 3rd quarter. PointState Capital LP now owns 1,208,627 shares of the railroad operator’s stock valued at $218,157,000 after acquiring an additional 789,086 shares in the last quarter. 81.25% of the stock is owned by institutional investors.
A number of brokerages have recently commented on NSC. Morgan Stanley boosted their price objective on Norfolk Southern from $113.00 to $115.00 and gave the stock an “underweight” rating in a research report on Monday, October 29th. Zacks Investment Research downgraded Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Thursday, November 15th. TD Securities boosted their price objective on Norfolk Southern from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, January 25th. Loop Capital boosted their price objective on Norfolk Southern to $210.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Cowen boosted their price objective on Norfolk Southern from $194.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $181.79.
Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, January 24th. The railroad operator reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.27. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Norfolk Southern had a return on equity of 16.71% and a net margin of 23.27%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.69 earnings per share. As a group, sell-side analysts anticipate that Norfolk Southern Corp. will post 10.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Monday, February 4th will be paid a dividend of $0.86 per share. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, February 1st. This represents a $3.44 annualized dividend and a yield of 1.92%. Norfolk Southern’s payout ratio is presently 36.17%.
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About Norfolk Southern
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.
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