KBC Group NV Grows Stake in Norfolk Southern Corporation $NSC

Key Points

• KBC Group NV increased its stake in Norfolk Southern by 59.9% in the first quarter, holding 30,435 shares worth about $8.7 million after the purchase.
• Norfolk Southern reported Q1 EPS of $2.65, topping estimates of $2.49, though revenue came in at $3.0 billion, below expectations of $3.13 billion.
• The company declared a quarterly dividend of $1.35 per share, payable August 20, while analysts currently maintain a Hold consensus with an average price target of $329.35.

KBC Group NV increased its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 59.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,435 shares of the railroad operator's stock after acquiring an additional 11,396 shares during the period. KBC Group NV's holdings in Norfolk Southern were worth $8,735,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NSC. SEB Asset Management AB bought a new stake in shares of Norfolk Southern during the 1st quarter valued at about $13,725,000. Swiss National Bank lifted its stake in shares of Norfolk Southern by 7.2% in the 1st quarter. Swiss National Bank now owns 658,520 shares of the railroad operator's stock worth $188,995,000 after purchasing an additional 44,080 shares during the period. Spartan Wealth Advisory Services LLC purchased a new position in shares of Norfolk Southern in the first quarter worth approximately $1,956,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Norfolk Southern by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 435 shares of the railroad operator's stock worth $125,000 after buying an additional 194 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Norfolk Southern by 0.4% during the first quarter. California Public Employees Retirement System now owns 415,656 shares of the railroad operator's stock valued at $119,293,000 after buying an additional 1,520 shares during the period. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Performance

NYSE NSC opened at $331.52 on Thursday. The firm has a market cap of $74.46 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 6.06 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The business has a 50-day moving average price of $316.07 and a 200-day moving average price of $305.42. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $342.53.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the company earned $2.69 EPS. The firm's quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts predict that Norfolk Southern Corporation will post 12.24 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. Norfolk Southern's dividend payout ratio (DPR) is presently 45.49%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Norfolk Southern from $331.00 to $316.00 and set a "neutral" rating for the company in a report on Friday, July 10th. Wolfe Research boosted their price objective 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. Wall Street Zen upgraded Norfolk Southern from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Wells Fargo & Company raised their target price on Norfolk Southern from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. Finally, Barclays lifted their target price on Norfolk Southern from $320.00 to $360.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $329.35.

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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