DNB Asset Management AS Reduces Holdings in Norfolk Southern Corporation $NSC

DNB Asset Management AS reduced its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 25.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,001 shares of the railroad operator’s stock after selling 18,034 shares during the period. DNB Asset Management AS’s holdings in Norfolk Southern were worth $16,222,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NSC. ORG Partners LLC lifted its holdings in Norfolk Southern by 75.0% in the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after buying an additional 36 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of Norfolk Southern by 207.1% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after acquiring an additional 58 shares in the last quarter. MMA Asset Management LLC purchased a new stake in shares of Norfolk Southern during the third quarter worth about $28,000. BNP Paribas acquired a new position in shares of Norfolk Southern in the second quarter worth about $26,000. Finally, Highline Wealth Partners LLC boosted its holdings in Norfolk Southern by 68.9% in the third quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NSC has been the topic of several analyst reports. Evercore lifted their price objective on Norfolk Southern from $298.00 to $299.00 in a report on Thursday, December 18th. Morgan Stanley raised shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a research report on Thursday, December 18th. JPMorgan Chase & Co. cut their price target on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Norfolk Southern in a research note on Thursday, January 22nd. Finally, Argus raised shares of Norfolk Southern to a “hold” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $304.47.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $314.01 on Friday. The company has a market cap of $70.52 billion, a PE ratio of 24.63, a P/E/G ratio of 5.64 and a beta of 1.34. The company has a fifty day moving average price of $297.95 and a two-hundred day moving average price of $290.42. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $319.94.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the prior year, the company earned $3.04 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. Research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is currently 42.35%.

Insider Transactions at Norfolk Southern

In related news, Director William Jr. Clyburn bought 204 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was bought at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the purchase, the director directly owned 405 shares in the company, valued at approximately $119,389.95. The trade was a 101.49% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by corporate insiders.

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.