Fifth Third Bancorp Purchases 62,649 Shares of Norfolk Southern Corporation $NSC

Key Points

• Fifth Third Bancorp increased its stake in Norfolk Southern by 64.9% in the first quarter, buying 62,649 additional shares and bringing its total holding to 159,143 shares worth about $45.7 million.
• Institutional ownership remains high, with hedge funds and other investors actively adjusting positions; overall, institutions own about 75.1% of Norfolk Southern’s stock.
• Analyst sentiment is mixed: several firms raised price targets or upgraded the stock, but JPMorgan trimmed its target and unusual options activity showed increased put buying, suggesting some caution around near-term performance.

Fifth Third Bancorp raised its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 64.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 159,143 shares of the railroad operator's stock after acquiring an additional 62,649 shares during the period. Fifth Third Bancorp owned about 0.07% of Norfolk Southern worth $45,674,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Markel Group Inc. raised its stake in shares of Norfolk Southern by 3.3% in the first quarter. Markel Group Inc. now owns 282,500 shares of the railroad operator's stock valued at $81,078,000 after purchasing an additional 9,000 shares in the last quarter. Manning & Napier Advisors LLC lifted its position in Norfolk Southern by 147.9% in the first quarter. Manning & Napier Advisors LLC now owns 523 shares of the railroad operator's stock worth $150,000 after purchasing an additional 312 shares during the period. Summit Securities Group LLC boosted its stake in Norfolk Southern by 76.6% during the first quarter. Summit Securities Group LLC now owns 588 shares of the railroad operator's stock worth $169,000 after buying an additional 255 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in Norfolk Southern by 21.1% during the first quarter. Kestra Advisory Services LLC now owns 23,420 shares of the railroad operator's stock worth $6,722,000 after buying an additional 4,076 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. increased its holdings in Norfolk Southern by 1.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 71,246 shares of the railroad operator's stock valued at $20,388,000 after buying an additional 838 shares during the period. Institutional investors own 75.10% of the company's stock.

Norfolk Southern News Roundup

Here are the key news stories impacting Norfolk Southern this week:

• Positive Sentiment: Robert W. Baird raised its price target on Norfolk Southern from $330 to $360, signaling more upside potential even though the firm kept a neutral rating. Benzinga report
• Positive Sentiment: Stephens upgraded Norfolk Southern to hold, a modestly more favorable stance that can support sentiment around the stock. Tickerreport.com article
• Neutral Sentiment: A Globe and Mail roundup noted that analyst views on Norfolk Southern are mixed, reinforcing that investors are balancing optimism on valuation with caution on near-term fundamentals. The Globe and Mail article
• Neutral Sentiment: JPMorgan lowered its price target from $331 to $316 and kept a neutral rating, suggesting limited upside from current levels and some pressure on sentiment. Benzinga report
• Negative Sentiment: Unusual options activity showed a surge in put buying, which can indicate that some traders are positioning for downside or hedging against short-term weakness. Options trading report

Norfolk Southern Stock Up 0.0%

Shares of NYSE:NSC opened at $327.60 on Monday. Norfolk Southern Corporation has a 52 week low of $257.49 and a 52 week high of $328.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The company's fifty day moving average is $313.03 and its 200-day moving average is $303.09. The company has a market capitalization of $73.58 billion, a PE ratio of 27.60, a P/E/G ratio of 6.02 and a beta of 1.27.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.69 EPS. Equities research analysts predict that Norfolk Southern Corporation will post 12.17 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern's dividend payout ratio is currently 45.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NSC shares. Evercore set a $325.00 price objective on shares of Norfolk Southern in a research note on Friday, April 24th. Wolfe Research lifted their target price on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an "outperform" rating in a research report on Tuesday, April 7th. Citigroup upped their target price on shares of Norfolk Southern from $335.00 to $351.00 and gave the company a "neutral" rating in a research note on Thursday. BMO Capital Markets increased their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a "market perform" rating in a research report on Monday, April 27th. Finally, Rothschild & Co Redburn increased their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. Seven analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Norfolk Southern has a consensus rating of "Hold" and a consensus target price of $326.72.

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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