Aristotle Atlantic Partners LLC Sells 5,729 Shares of Norfolk Southern Corporation $NSC

Key Points

• Aristotle Atlantic Partners LLC reduced its Norfolk Southern stake by 3%, selling 5,729 shares to hold 183,923 shares worth about $55.25M (roughly 0.08% of NSC) after the quarter.
• Several large institutions increased or opened positions—most notably Norges Bank bought a new stake worth ~ $613M and UBS, Balyasny, Holocene and TOMS added sizeable holdings—leaving institutional ownership at about 75.1%.
• Norfolk Southern reported Q EPS $3.22 (beat estimates) with revenue of $3.0B (slight miss), announced a quarterly dividend of $1.35 (annualized $5.40, yield ~1.9%), and carries a consensus analyst rating of "Hold" with an average price target of $308.95.

Aristotle Atlantic Partners LLC decreased its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 183,923 shares of the railroad operator's stock after selling 5,729 shares during the quarter. Norfolk Southern accounts for approximately 1.6% of Aristotle Atlantic Partners LLC's holdings, making the stock its 17th biggest holding. Aristotle Atlantic Partners LLC owned 0.08% of Norfolk Southern worth $55,252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NSC. Norges Bank bought a new stake in Norfolk Southern in the second quarter valued at about $613,255,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Norfolk Southern by 545.2% in the third 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 worth $392,396,000 after purchasing an additional 1,103,748 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Norfolk Southern during the third quarter worth about $329,629,000. Holocene Advisors LP lifted its stake in Norfolk Southern by 550.6% during the second quarter. Holocene Advisors LP now owns 983,366 shares of the railroad operator's stock worth $251,712,000 after purchasing an additional 832,210 shares during the period. Finally, TOMS Capital Investment Management LP acquired a new stake in Norfolk Southern during the second quarter valued at approximately $181,995,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Down 0.7%

Shares of NYSE NSC opened at $289.25 on Friday. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $319.94. The firm's 50-day simple moving average is $300.74 and its 200 day simple moving average is $292.10. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The company has a market cap of $64.96 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 5.22 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The firm had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.03 billion. During the same quarter last year, the company posted $3.04 EPS. The company's quarterly revenue was down 1.7% compared to the same quarter last year. On average, research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, February 6th. Norfolk Southern's dividend payout ratio is 42.35%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NSC shares. UBS Group lowered Norfolk Southern from a "buy" rating to a "neutral" rating and set a $342.00 price objective on the stock. in a research note on Friday, February 6th. Benchmark restated a "hold" rating on shares of Norfolk Southern in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft lowered Norfolk Southern from a "buy" rating to a "hold" rating and decreased their price target for the company from $354.00 to $297.00 in a research note on Thursday, December 11th. Weiss Ratings upgraded Norfolk Southern from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday. Finally, Argus raised Norfolk Southern to a "hold" rating in a report on Wednesday, February 25th. Eight research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. Based on data from MarketBeat, Norfolk Southern currently has a consensus rating of "Hold" and an average price target of $308.95.

Norfolk Southern 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.

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