Norfolk Southern Corporation $NSC Shares Acquired by Keybank National Association OH

Keybank National Association OH increased its stake in Norfolk Southern Corporation (NYSE:NSC) by 12.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 128,775 shares of the railroad operator’s stock after purchasing an additional 14,326 shares during the period. Keybank National Association OH owned 0.05% of Norfolk Southern worth $36,958,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. JPL Wealth Management LLC bought a new position in Norfolk Southern during the 3rd quarter worth $25,000. BNP Paribas bought a new stake in Norfolk Southern in the second quarter valued at $26,000. GoalVest Advisory LLC boosted its holdings in shares of Norfolk Southern by 933.3% during the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after acquiring an additional 84 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after acquiring an additional 67 shares during the period. Finally, FNY Investment Advisers LLC grew its position in shares of Norfolk Southern by 669.2% during the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock worth $30,000 after acquiring an additional 87 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $322.85 on Friday. Norfolk Southern Corporation has a fifty-two week low of $257.49 and a fifty-two week high of $326.00. The firm’s 50-day simple moving average is $312.03 and its 200 day simple moving average is $301.85. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The stock has a market cap of $72.51 billion, a P/E ratio of 27.20, a P/E/G ratio of 5.89 and a beta of 1.27.

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

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid 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 of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio is currently 45.49%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NSC shares. Weiss Ratings cut shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. TD Cowen boosted their target price on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Barclays upped their target price on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Royal Bank Of Canada dropped their price target on shares of Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a research note on Wednesday, June 24th. Finally, Susquehanna boosted their price objective on Norfolk Southern from $330.00 to $337.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $320.35.

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.