Gulf International Bank UK Ltd Lowers Stock Position in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Gulf International Bank UK Ltd has reduced its stake in Norfolk Southern Corporation by 22.9%, selling 3,899 shares during the first quarter, leaving them with 13,122 shares valued at $3,107,000.
• Institutional investors collectively own 75.10% of Norfolk Southern, with significant increases in holdings from firms like GAMMA Investing LLC, which expanded its stake by 25,555.7%.
• Norfolk Southern recently reported quarterly earnings of $3.29 per share, ahead of analyst expectations, and declared a quarterly dividend of $1.35, reflecting an annualized yield of 1.9%.

Gulf International Bank UK Ltd reduced its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 22.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,122 shares of the railroad operator's stock after selling 3,899 shares during the period. Gulf International Bank UK Ltd's holdings in Norfolk Southern were worth $3,107,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NSC. Brighton Jones LLC raised its holdings in Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after purchasing an additional 79 shares in the last quarter. Townsquare Capital LLC raised its holdings in Norfolk Southern by 24.0% during the fourth quarter. Townsquare Capital LLC now owns 6,275 shares of the railroad operator's stock worth $1,473,000 after purchasing an additional 1,216 shares in the last quarter. Mariner LLC raised its holdings in Norfolk Southern by 1.7% during the fourth quarter. Mariner LLC now owns 68,091 shares of the railroad operator's stock worth $15,981,000 after purchasing an additional 1,110 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in Norfolk Southern during the fourth quarter worth about $357,000. Finally, XTX Topco Ltd purchased a new position in Norfolk Southern in the fourth quarter valued at about $249,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Sanford C. Bernstein increased their target price on shares of Norfolk Southern from $295.00 to $305.00 and gave the company an "outperform" rating in a report on Monday, July 21st. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $288.00 target price (up from $282.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. Baird R W raised shares of Norfolk Southern to a "hold" rating in a report on Tuesday, July 1st. Bank of America increased their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Susquehanna reaffirmed a "neutral" rating and issued a $260.00 target price (up from $250.00) on shares of Norfolk Southern in a report on Tuesday, June 24th. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $285.15.

Norfolk Southern Trading Down 0.6%

NSC stock traded down $1.64 during midday trading on Friday, hitting $280.86. The stock had a trading volume of 1,939,854 shares, compared to its average volume of 3,210,820. The firm has a market cap of $63.09 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 2.49 and a beta of 1.31. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $288.11. The company's 50-day moving average price is $266.84 and its 200 day moving average price is $246.68.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, topping the consensus estimate of $3.24 by $0.05. The firm had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. On average, equities research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 1st. Norfolk Southern's payout ratio is presently 36.49%.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.