Norfolk Southern Corporation $NSC Stock Sold by Keybank National Association OH

Keybank National Association OH reduced its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,252 shares of the railroad operator’s stock after selling 6,560 shares during the period. Keybank National Association OH owned about 0.05% of Norfolk Southern worth $34,995,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NSC. B. Metzler seel. Sohn & Co. AG acquired a new position in Norfolk Southern during the second quarter worth $3,669,000. SCS Capital Management LLC bought a new position in Norfolk Southern in the second quarter valued at $13,837,000. NewEdge Advisors LLC grew its position in Norfolk Southern by 17.2% in the second quarter. NewEdge Advisors LLC now owns 35,598 shares of the railroad operator’s stock valued at $11,199,000 after purchasing an additional 5,233 shares in the last quarter. Focus Partners Advisor Solutions LLC bought a new position in Norfolk Southern in the second quarter valued at $1,376,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab increased its stake in Norfolk Southern by 29.2% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 54,620 shares of the railroad operator’s stock valued at $17,183,000 after buying an additional 12,350 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Up 0.7%

NYSE:NSC opened at $330.32 on Thursday. Norfolk Southern Corporation has a twelve month low of $277.80 and a twelve month high of $358.60. The firm has a market capitalization of $74.20 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 4.88 and a beta of 1.20. The company has a quick ratio of 0.81, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The stock’s 50 day moving average price is $324.06 and its two-hundred day moving average price is $316.69.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, October 22nd. The railroad operator reported $3.62 EPS for the quarter, beating the consensus estimate of $3.46 by $0.16. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.48 billion. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.30 EPS. Equities research analysts expect that Norfolk Southern Corporation will post 12.87 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, November 6th. Norfolk Southern’s payout ratio is presently 45.26%.

Wall Street Analysts Forecast Growth

NSC has been the topic of several analyst reports. Robert W. Baird boosted their price target on shares of Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Weiss Ratings upgraded shares of Norfolk Southern from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Evercore raised their price objective on Norfolk Southern from $358.00 to $360.00 in a report on Wednesday, September 30th. TD Cowen raised their price objective on Norfolk Southern from $376.00 to $379.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Finally, Susquehanna lowered their target price on Norfolk Southern from $386.00 to $350.00 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $348.81.

Norfolk Southern Profile

Norfolk Southern Corporation is a freight transportation company that operates a major railroad network across the eastern United States. Its rail services connect businesses, ports and communities, and link with other railroads to move goods across North America. The company transports a broad range of products, including coal, chemicals, agricultural goods, automotive vehicles and parts, metals, construction materials and consumer products. Its services include intermodal transportation, which combines rail with truck or container shipping, as well as rail freight and logistics solutions.