Mizuho Securities USA LLC Reduces Stock Position in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Mizuho Securities USA LLC has reduced its stake in Norfolk Southern Corporation by 15.4%, now owning 18,131 shares worth approximately $4.29 million.
• Institutional investors hold 75.10% of Norfolk Southern's stock, with several firms recently adjusting their positions, including an increase by Vanguard Group Inc. by 1.2%.
• Norfolk Southern recently reported an EPS of $3.29 for the last quarter, surpassing analysts' expectations, and announced a quarterly dividend of $1.35 per share.

Mizuho Securities USA LLC lessened its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 15.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,131 shares of the railroad operator's stock after selling 3,311 shares during the quarter. Mizuho Securities USA LLC's holdings in Norfolk Southern were worth $4,294,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Norfolk Southern by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 20,321,359 shares of the railroad operator's stock worth $4,813,114,000 after purchasing an additional 232,195 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Norfolk Southern by 11.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator's stock worth $2,020,318,000 after buying an additional 918,559 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in Norfolk Southern by 1.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 3,968,582 shares of the railroad operator's stock worth $931,426,000 after buying an additional 75,865 shares during the last quarter. Northern Trust Corp boosted its stake in Norfolk Southern by 8.9% in the 4th quarter. Northern Trust Corp now owns 2,870,443 shares of the railroad operator's stock worth $673,693,000 after buying an additional 233,927 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Norfolk Southern by 13.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,916,261 shares of the railroad operator's stock worth $449,730,000 after buying an additional 230,225 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Price Performance

Shares of NSC opened at $279.82 on Friday. The company has a market cap of $62.85 billion, a P/E ratio of 18.91, a PEG ratio of 2.48 and a beta of 1.31. The stock has a fifty day moving average price of $263.58 and a 200 day moving average price of $245.83. 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.

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

Norfolk Southern Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NSC shares. Citigroup lifted their price objective on Norfolk Southern from $288.00 to $305.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Barclays boosted their price target on Norfolk Southern from $290.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Baird R W raised Norfolk Southern to a "hold" rating in a research report on Tuesday, July 1st. UBS Group boosted their price target on Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Finally, Royal Bank Of Canada lowered Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $285.15.

Norfolk Southern Company Profile

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.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corporation (NYSE:NSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.