Pictet Asset Management Holding SA Has $29.76 Million Stock Position in Norfolk Southern Corporation $NSC

Pictet Asset Management Holding SA trimmed its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 4.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,712 shares of the railroad operator’s stock after selling 4,796 shares during the period. Pictet Asset Management Holding SA’s holdings in Norfolk Southern were worth $29,764,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NSC. JPL Wealth Management LLC acquired a new position in Norfolk Southern during the third quarter valued at approximately $25,000. GoalVest Advisory LLC lifted its position in shares of Norfolk Southern by 933.3% during the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after buying an additional 84 shares during the last quarter. Meeder Asset Management Inc. raised its stake in Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 67 shares in the last quarter. BNP Paribas acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at approximately $26,000. Finally, FNY Investment Advisers LLC boosted its position in 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 buying an additional 87 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Zacks Research upgraded Norfolk Southern from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Sanford C. Bernstein dropped their target price on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. JPMorgan Chase & Co. dropped their price target on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Robert W. Baird increased their price objective on shares of Norfolk Southern from $315.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, BMO Capital Markets raised their target price on Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a research note on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $320.35.

Norfolk Southern Trading Down 0.6%

NYSE:NSC opened at $314.68 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The firm has a 50-day moving average of $311.31 and a 200-day moving average of $301.49. The company has a market cap of $70.67 billion, a PE ratio of 26.51, a PEG ratio of 5.84 and a beta of 1.27. Norfolk Southern Corporation has a one year low of $255.41 and a one year high of $326.00.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.16. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.69 EPS. As a group, equities research analysts expect that Norfolk Southern Corporation will post 12.12 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $1.35 dividend. 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 dividend payout ratio (DPR) is currently 45.49%.

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.