Bank of Montreal Can Increases Holdings in Norfolk Southern Corporation $NSC

Key Points

• Bank of Montreal Can raised its Norfolk Southern stake by 72.9% in Q3 to 313,834 shares — about 0.14% of the company — worth roughly $94.28 million.
• Norfolk Southern reported quarterly EPS of $3.22, beating the $2.76 consensus while revenue was $3.0B (slightly below estimates); the quarter showed a 23.6% net margin and 18.8% return on equity.
• The company paid a quarterly dividend of $1.35 (annualized $5.40, yield ~1.8%, payout ratio 42.35%), and analysts' consensus is a "Hold" with an average price target of $308.95.

Bank of Montreal Can increased its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 72.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 313,834 shares of the railroad operator's stock after buying an additional 132,296 shares during the quarter. Bank of Montreal Can owned 0.14% of Norfolk Southern worth $94,279,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NSC. Tritonpoint Wealth LLC grew its position in shares of Norfolk Southern by 3.5% during the 3rd quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator's stock valued at $313,000 after acquiring an additional 35 shares during the period. Massachusetts Wealth Management raised its holdings in shares of Norfolk Southern by 0.6% in the 3rd quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator's stock worth $1,798,000 after purchasing an additional 35 shares during the period. ORG Partners LLC raised its holdings in shares of Norfolk Southern by 75.0% in the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator's stock worth $25,000 after purchasing an additional 36 shares during the period. Inspirion Wealth Advisors LLC lifted its stake in Norfolk Southern by 1.9% in the third quarter. Inspirion Wealth Advisors LLC now owns 2,008 shares of the railroad operator's stock valued at $603,000 after purchasing an additional 37 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in Norfolk Southern by 1.8% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 2,042 shares of the railroad operator's stock valued at $613,000 after purchasing an additional 37 shares during the period. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $297.98 on Thursday. The company's fifty day moving average price is $300.67 and its 200-day moving average price is $291.92. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The firm has a market capitalization of $66.92 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 5.39 and a beta of 1.31. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $319.94.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the business earned $3.04 earnings per share. The firm's quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were given a $1.35 dividend. The ex-dividend date was Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern's payout ratio is presently 42.35%.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of recent analyst reports. Citigroup reduced their target price on Norfolk Southern from $317.00 to $300.00 and set a "neutral" rating for the company in a report on Friday, January 30th. Benchmark reiterated a "hold" rating on shares of Norfolk Southern in a research report on Friday, January 30th. Rothschild & Co Redburn lifted their price objective on Norfolk Southern from $299.00 to $317.00 and gave the company a "neutral" rating in a research note on Wednesday, March 4th. JPMorgan Chase & Co. reduced their target price on Norfolk Southern from $301.00 to $296.00 and set a "neutral" rating for the company in a research report on Friday, January 30th. Finally, Morgan Stanley upgraded Norfolk Southern from an "equal weight" rating to a "buy" rating in a research note on Thursday, December 18th. Seven equities research analysts have rated the stock with a Buy rating and eighteen have issued a Hold rating to the stock. According to MarketBeat, Norfolk Southern currently has an average rating of "Hold" and an average price target of $308.95.

About Norfolk Southern

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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