Norfolk Southern Corporation $NSC Holdings Raised by Amundi

Key Points

• Amundi increased its Norfolk Southern position by 24.2% in the first quarter, purchasing 434,074 additional shares and bringing its holdings to 2.23 million shares valued at approximately $639.1 million. Institutional investors collectively own 75.1% of the company.
• Analyst sentiment remains mixed, with an overall “Hold” consensus and an average price target of $348.00; recent targets range from $355 to $400.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in earnings per share and $3.46 billion in revenue, with revenue up 12.5% year over year. The company also declared a quarterly dividend of $1.35 per share, equivalent to a 1.6% annual yield.

Amundi increased its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 24.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,226,885 shares of the railroad operator's stock after purchasing an additional 434,074 shares during the quarter. Amundi owned 0.99% of Norfolk Southern worth $639,116,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. JPL Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $25,000. BNP Paribas acquired a new position in Norfolk Southern during the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. boosted its position in Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator's stock valued at $27,000 after purchasing an additional 67 shares during the period. Financial Life Planners bought a new position in Norfolk Southern during the 1st quarter worth $33,000. Finally, Bayban acquired a new stake in Norfolk Southern in the fourth quarter worth $34,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Robert W. Baird raised their target price on Norfolk Southern from $360.00 to $377.00 and gave the company a "neutral" rating in a research note on Monday. Barclays increased their price objective on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday. Wall Street Zen raised shares of Norfolk Southern from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Benchmark restated a "hold" rating on shares of Norfolk Southern in a research note on Friday. Finally, Wolfe Research increased their price objective on Norfolk Southern from $350.00 to $355.00 and gave the stock an "outperform" rating in a report on Tuesday, April 7th. Seven analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $348.00.

Norfolk Southern Price Performance

NYSE NSC opened at $339.18 on Wednesday. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The firm has a market capitalization of $76.18 billion, a PE ratio of 28.94, a P/E/G ratio of 6.11 and a beta of 1.27. The company's 50 day simple moving average is $318.25 and its 200 day simple moving average is $307.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating analysts' consensus estimates of $3.32 by $0.20. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.Norfolk Southern's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.29 earnings per share. As a group, equities research analysts forecast that Norfolk Southern Corporation will post 12.6 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern's dividend payout ratio is 46.08%.

Norfolk Southern 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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