Cohen & Steers Inc. Raises Stock Position in Norfolk Southern Corporation $NSC

Cohen & Steers Inc. lifted its position in Norfolk Southern Corporation (NYSE:NSC) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 723,068 shares of the railroad operator’s stock after buying an additional 3,179 shares during the period. Cohen & Steers Inc. owned approximately 0.32% of Norfolk Southern worth $208,764,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NSC. Norges Bank purchased a new stake in shares of Norfolk Southern during the fourth quarter valued at $1,084,701,000. Pentwater Capital Management LP purchased a new stake in shares of Norfolk Southern during the third quarter valued at $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Norfolk Southern by 545.2% during 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 valued at $392,396,000 after buying an additional 1,103,748 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Norfolk Southern during the third quarter valued at $329,629,000. Finally, TOMS Capital Investment Management LP purchased a new stake in shares of Norfolk Southern during the second quarter valued at $181,995,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $314.05 on Friday. Norfolk Southern Corporation has a 52-week low of $247.85 and a 52-week high of $326.00. The firm has a market capitalization of $70.53 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 5.73 and a beta of 1.27. The company has a fifty day simple moving average of $308.35 and a 200-day simple moving average of $300.08. 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 released its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the firm earned $2.69 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts anticipate that Norfolk Southern Corporation will post 12.12 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders 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 dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio is presently 45.49%.

Analysts Set New Price Targets

Several analysts have commented on NSC shares. Zacks Research upgraded shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Rothschild & Co Redburn lifted their price objective on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. BMO Capital Markets lifted their price objective on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. decreased their price objective on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Finally, Sanford C. Bernstein decreased their price objective on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Six equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.