Capital Group Private Client Services Inc. Has $1.69 Million Stock Holdings in Norfolk Southern Corporation $NSC

Key Points

• Capital Group Private Client Services Inc. lowered its holdings by 79.4% in the third quarter, ending the period with 5,614 Norfolk Southern shares worth $1.687 million after selling 21,577 shares.
• Wall Street's consensus rating is "Hold" on NSC with an average price target of $308.95 (seven Buy, eighteen Hold), while the stock trades near $299 and has a one‑year high of $319.94.
• Norfolk Southern beat quarterly EPS estimates ($3.22 vs. $2.76) despite slight revenue weakness, and pays a $1.35 quarterly dividend (annualized $5.40, yield ~1.8%, DPR ~42.35%).

Capital Group Private Client Services Inc. lowered its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 79.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,614 shares of the railroad operator's stock after selling 21,577 shares during the period. Capital Group Private Client Services Inc.'s holdings in Norfolk Southern were worth $1,687,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NSC. ORG Partners LLC grew its position in shares of Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator's stock worth $25,000 after buying an additional 36 shares during the period. Westside Investment Management Inc. increased its stake in shares of Norfolk Southern by 207.1% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator's stock valued at $26,000 after acquiring an additional 58 shares in the last quarter. BNP Paribas acquired a new position in shares of Norfolk Southern during the 2nd quarter valued at $26,000. MMA Asset Management LLC bought a new position in Norfolk Southern during the third quarter worth $28,000. Finally, Highline Wealth Partners LLC boosted its stake in Norfolk Southern by 68.9% during the third quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator's stock worth $31,000 after acquiring an additional 42 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NSC shares. Rothschild & Co Redburn lifted their price target on shares of Norfolk Southern from $299.00 to $317.00 and gave the company a "neutral" rating in a research note on Wednesday, March 4th. Sanford C. Bernstein cut their price objective on shares of Norfolk Southern from $347.00 to $333.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 11th. Barclays reduced their target price on Norfolk Southern from $340.00 to $320.00 and set an "overweight" rating for the company in a research note on Friday, January 30th. Evercore upped their price target on Norfolk Southern from $298.00 to $299.00 in a research note on Thursday, December 18th. Finally, Argus upgraded Norfolk Southern to a "hold" rating in a report on Wednesday, February 25th. Seven equities research analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $308.95.

Norfolk Southern Trading Down 1.1%

NYSE:NSC opened at $298.96 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $319.94. The company has a market cap of $67.14 billion, a PE ratio of 23.45, a PEG ratio of 5.46 and a beta of 1.31. The firm has a 50-day moving average of $300.48 and a 200-day moving average of $291.87.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The firm's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.04 EPS. As a group, equities research analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

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.

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