57,490 Norfolk Southern Corporation $NSC Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners LLC cut its Norfolk Southern stake by 98.7%, selling 57,490 shares and retaining just 753 shares worth approximately $233,000.
• Norfolk Southern reported quarterly EPS of $3.52, beating estimates by $0.20, while revenue rose 12.5% year over year to $3.46 billion. The company also maintains a $1.35 quarterly dividend, equivalent to a 1.7% yield.
• Institutional investors own 75.1% of the stock, while Wall Street’s overall rating is “Hold”, with an average price target of $346.94 versus the cited share price of $326.50.

Curated Wealth Partners LLC reduced its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 98.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 753 shares of the railroad operator's stock after selling 57,490 shares during the period. Curated Wealth Partners LLC's holdings in Norfolk Southern were worth $233,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Louisiana State Employees Retirement System acquired a new position in Norfolk Southern during the first quarter valued at approximately $3,272,000. SCS Capital Management LLC bought a new stake in Norfolk Southern in the second quarter valued at approximately $13,837,000. B. Metzler seel. Sohn & Co. AG bought a new stake in Norfolk Southern in the second quarter valued at approximately $3,669,000. Focus Partners Advisor Solutions LLC bought a new stake in Norfolk Southern in the second quarter valued at approximately $1,376,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in Norfolk Southern by 29.2% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 54,620 shares of the railroad operator's stock worth $17,183,000 after purchasing an additional 12,350 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Down 0.1%

Shares of NSC stock opened at $326.50 on Monday. The firm's fifty day moving average price is $327.14 and its two-hundred day moving average price is $319.43. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. Norfolk Southern Corporation has a 1 year low of $277.80 and a 1 year high of $358.60. The firm has a market capitalization of $73.33 billion, a P/E ratio of 27.86, a PEG ratio of 4.87 and a beta of 1.29.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping analysts' consensus estimates of $3.32 by $0.20. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company's quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.29 EPS. On average, equities analysts predict that Norfolk Southern Corporation will post 12.81 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, August 7th. Norfolk Southern's dividend payout ratio is presently 46.08%.

Wall Street Analyst Weigh In

NSC has been the topic of a number of recent analyst reports. UBS Group reissued a "neutral" rating and set a $363.00 price target on shares of Norfolk Southern in a research report on Friday, July 24th. Weiss Ratings upgraded shares of Norfolk Southern from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. Robert W. Baird upped their price objective on shares of Norfolk Southern from $360.00 to $377.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Stephens raised Norfolk Southern to a "hold" rating in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada reduced their target price on Norfolk Southern from $360.00 to $330.00 and set a "sector perform" rating on the stock in a report on Thursday, September 24th. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $346.94.

Norfolk Southern Profile

Norfolk Southern Corporation NYSE: NSC is a transportation company that operates one of the largest freight railroad networks in the eastern United States. Through its Norfolk Southern Railway subsidiary, the company provides rail transportation and related services across a broad territory spanning portions of the Midwest, South and East Coast, including access to major industrial centers, ports and distribution markets.

Norfolk Southern transports a diverse range of commodities, including intermodal freight, merchandise, automotive products, coal and other energy-related materials.

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