Cinctive Capital Management LP Lowers Stock Position in Norfolk Southern Corporation $NSC

Cinctive Capital Management LP lessened its holdings in Norfolk Southern Corporation (NYSE:NSC) by 38.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,745 shares of the railroad operator’s stock after selling 25,448 shares during the quarter. Cinctive Capital Management LP’s holdings in Norfolk Southern were worth $11,764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Norfolk Southern by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock worth $6,012,836,000 after acquiring an additional 272,651 shares in the last quarter. State Street Corp lifted its stake in Norfolk Southern by 4.1% in the 4th quarter. State Street Corp now owns 9,710,549 shares of the railroad operator’s stock valued at $2,803,630,000 after buying an additional 379,819 shares in the last quarter. Geode Capital Management LLC raised its holdings in Norfolk Southern by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock valued at $1,401,797,000 after acquiring an additional 36,205 shares during the last quarter. Norges Bank acquired a new position in Norfolk Southern in the 4th quarter valued at $1,084,701,000. Finally, Pentwater Capital Management LP raised its holdings in Norfolk Southern by 9.8% in the 4th quarter. Pentwater Capital Management LP now owns 3,019,000 shares of the railroad operator’s stock valued at $871,646,000 after acquiring an additional 269,000 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $300.38 on Thursday. The firm’s 50 day moving average is $309.49 and its two-hundred day moving average is $300.56. Norfolk Southern Corporation has a 52 week low of $250.65 and a 52 week high of $326.00. The firm has a market capitalization of $67.46 billion, a P/E ratio of 25.31, a PEG ratio of 5.74 and a beta of 1.27. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the business earned $2.69 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Analysts anticipate that Norfolk Southern Corporation will post 12.12 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors 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 annualized dividend and a yield of 1.8%. Norfolk Southern’s payout ratio is presently 45.49%.

Analyst Ratings Changes

A number of analysts have recently commented on NSC shares. UBS Group set a $327.00 price objective on Norfolk Southern in a report on Thursday, May 7th. Jefferies Financial Group decreased their price objective on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Wolfe Research upped their price objective on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. Evercore set a $325.00 price target on shares of Norfolk Southern in a research report on Friday, April 24th. Finally, Royal Bank Of Canada increased their price target on shares of Norfolk Southern from $310.00 to $360.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.