Hsbc Holdings PLC Purchases 49,931 Shares of Norfolk Southern Corporation $NSC

Hsbc Holdings PLC raised its position in Norfolk Southern Corporation (NYSE:NSC) by 15.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 374,967 shares of the railroad operator’s stock after purchasing an additional 49,931 shares during the quarter. Hsbc Holdings PLC’s holdings in Norfolk Southern were worth $108,286,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Norfolk Southern during the fourth quarter worth about $1,084,701,000. Pentwater Capital Management LP bought a new stake in Norfolk Southern in the 3rd quarter valued at approximately $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Norfolk Southern by 545.2% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock valued at $392,396,000 after acquiring an additional 1,103,748 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Norfolk Southern during the 3rd quarter worth approximately $329,629,000. Finally, HBK Investments L P boosted its position in Norfolk Southern by 67.7% during the 4th quarter. HBK Investments L P now owns 2,130,000 shares of the railroad operator’s stock worth $614,974,000 after acquiring an additional 860,000 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Trading Down 0.1%

NSC stock opened at $299.81 on Monday. Norfolk Southern Corporation has a one year low of $251.62 and a one year high of $326.00. The stock has a market cap of $67.33 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 5.54 and a beta of 1.27. The company has a fifty day moving average price of $309.83 and a two-hundred day moving average price of $300.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data 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 company had revenue of $3 billion for 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%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.69 earnings per share. Equities analysts anticipate 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. Investors of record on Friday, May 8th were paid a $1.35 dividend. The ex-dividend date was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern’s dividend payout ratio is 45.49%.

Wall Street Analyst Weigh In

NSC has been the topic of a number of recent research reports. Barclays lifted their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Rothschild & Co Redburn raised their target price on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Argus upgraded shares of Norfolk Southern to a “hold” rating in a research note on Wednesday, February 25th. Wolfe Research lifted their price target on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. Finally, Sanford C. Bernstein cut their price target on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Six equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.