Norfolk Southern Corporation $NSC Shares Purchased by TD Asset Management Inc

TD Asset Management Inc boosted its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 85,721 shares of the railroad operator’s stock after purchasing an additional 2,707 shares during the period. TD Asset Management Inc’s holdings in Norfolk Southern were worth $24,749,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NSC. JPL Wealth Management LLC purchased a new stake in Norfolk Southern during the third quarter worth about $25,000. GoalVest Advisory LLC boosted its stake in shares of Norfolk Southern by 933.3% in the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after purchasing an additional 84 shares during the period. MMA Asset Management LLC acquired a new position in shares of Norfolk Southern in the third quarter valued at approximately $28,000. FNY Investment Advisers LLC grew its holdings in shares of Norfolk Southern by 669.2% in the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. Finally, BNP Paribas purchased a new stake in Norfolk Southern during the 2nd quarter worth approximately $26,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Up 0.1%

Shares of NYSE NSC opened at $313.88 on Monday. The business has a 50-day moving average of $305.69 and a two-hundred day moving average of $299.20. The company has a market capitalization of $70.49 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 5.79 and a beta of 1.27. Norfolk Southern Corporation has a 1 year low of $247.85 and a 1 year high of $326.00. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $2.69 EPS. On average, analysts forecast that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have commented on NSC. Susquehanna raised 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. UBS Group set a $327.00 price objective on Norfolk Southern in a research report on Thursday, May 7th. Royal Bank Of Canada increased their price objective on Norfolk Southern from $310.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Citigroup reissued a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Finally, Barclays upped their price target on Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $322.71.

About Norfolk Southern

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.