Ausbil Investment Management Ltd Grows Stock Position in Norfolk Southern Corporation $NSC

Key Points

• Ausbil Investment Management increased its Norfolk Southern position by 35.6% in the third quarter, bringing its holdings to 37,991 shares valued at approximately $11.7 million. Institutional investors collectively own 75.1% of NSC.
• Norfolk Southern reported quarterly EPS of $3.52, exceeding estimates of $3.32, while revenue rose 12.5% year over year to $3.46 billion.
• NSC pays an annualized dividend of $5.40 per share, yielding about 1.7%. Analysts maintain a consensus “Hold” rating with an average price target of $346.94, versus a reported share price of $313.01.

Ausbil Investment Management Ltd increased its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 35.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,991 shares of the railroad operator's stock after purchasing an additional 9,965 shares during the period. Norfolk Southern accounts for 5.9% of Ausbil Investment Management Ltd's portfolio, making the stock its 3rd largest holding. Ausbil Investment Management Ltd's holdings in Norfolk Southern were worth $11,739,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NSC. Venture Visionary Partners LLC lifted its holdings in Norfolk Southern by 2.3% in the 3rd quarter. Venture Visionary Partners LLC now owns 3,900 shares of the railroad operator's stock worth $1,205,000 after purchasing an additional 88 shares in the last quarter. KFA Private Wealth Group LLC boosted its stake in Norfolk Southern by 19.3% in the 3rd quarter. KFA Private Wealth Group LLC now owns 2,318 shares of the railroad operator's stock worth $717,000 after purchasing an additional 375 shares during the period. Elevation Wealth Partners LLC grew its holdings in Norfolk Southern by 2,125.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 89 shares of the railroad operator's stock valued at $28,000 after buying an additional 85 shares in the last quarter. Canandaigua National Trust Co of Florida bought a new stake in shares of Norfolk Southern during the third quarter valued at approximately $312,000. Finally, North Point Portfolio Managers Corp OH purchased a new position in shares of Norfolk Southern in the third quarter worth $28,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Price Performance

NSC stock opened at $313.01 on Thursday. 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 12 month low of $277.80 and a 12 month high of $358.60. The stock has a market cap of $70.31 billion, a PE ratio of 26.71, a P/E/G ratio of 4.74 and a beta of 1.29. The company has a 50-day moving average price of $329.46 and a 200 day moving average price of $317.55.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the business earned $3.29 earnings per share. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. Equities research analysts anticipate that Norfolk Southern Corporation will post 12.75 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NSC. Evercore lifted their target price on Norfolk Southern from $358.00 to $360.00 in a report on Wednesday, September 30th. JPMorgan Chase & Co. decreased their price objective on Norfolk Southern from $338.00 to $318.00 and set a "neutral" rating on the stock in a report on Monday. BMO Capital Markets raised their target price on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Stephens raised shares of Norfolk Southern to a "hold" rating in a research note on Wednesday, July 8th. Finally, UBS Group reissued a "neutral" rating and issued a $363.00 price objective on shares of Norfolk Southern in a research note on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $346.94.

About Norfolk Southern

Norfolk Southern Corporation NYSE: NSC is a transportation company that operates one of the largest rail networks in the eastern United States. Through its principal subsidiary, Norfolk Southern Railway, the company provides freight rail transportation and related services for industrial, agricultural and consumer markets.

Norfolk Southern's network serves 22 states and the District of Columbia, connecting major ports, manufacturing centers and distribution hubs across the East Coast and the Midwest.

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