Norfolk Southern Corporation $NSC Shares Sold by Comerica Bank

Key Points

• Comerica Bank reduced its stake in Norfolk Southern by 9.0% in Q4, selling 6,620 shares and leaving it with 67,235 shares valued at about $19.41 million, while institutional investors own roughly 75.10% of the company.
• Norfolk Southern beat EPS estimates with $2.65 for the quarter (vs. $2.49 expected) but missed revenue expectations at $3.0 billion versus a $3.13 billion consensus, reporting a net margin of about 21.9%.
• The company declared a quarterly dividend of $1.35 (annualized $5.40) with an ex-dividend date of May 8 and a yield of ~1.7%, and Wall Street’s consensus rating is "Hold" with a target price near $319.44.

Comerica Bank lessened its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,235 shares of the railroad operator's stock after selling 6,620 shares during the period. Comerica Bank's holdings in Norfolk Southern were worth $19,412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ORG Partners LLC grew its holdings in Norfolk Southern by 75.0% during the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator's stock worth $25,000 after acquiring an additional 36 shares during the period. JPL Wealth Management LLC acquired a new position in Norfolk Southern during the third quarter worth $25,000. Westside Investment Management Inc. grew its holdings in Norfolk Southern by 207.1% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator's stock worth $26,000 after acquiring an additional 58 shares during the period. GoalVest Advisory LLC grew its holdings in Norfolk Southern by 933.3% during the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator's stock worth $27,000 after acquiring an additional 84 shares during the period. Finally, MMA Asset Management LLC acquired a new position in Norfolk Southern during the third quarter worth $28,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Down 0.3%

NSC opened at $318.84 on Tuesday. The business's fifty day moving average is $299.68 and its two-hundred day moving average is $293.87. 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 has a market cap of $78.06 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 5.91 and a beta of 1.31. Norfolk Southern Corporation has a one year low of $218.05 and a one year high of $323.37.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.49 by $0.16. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.Norfolk Southern's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.69 earnings per share. Analysts anticipate that Norfolk Southern Corporation will post 12.11 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, May 8th. Norfolk Southern's dividend payout ratio is currently 45.49%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NSC. Susquehanna upped their price objective on Norfolk Southern from $305.00 to $330.00 and gave the stock a "neutral" rating in a report on Wednesday, April 22nd. Royal Bank Of Canada boosted their target price on Norfolk Southern from $310.00 to $360.00 and gave the stock a "sector perform" rating in a research report on Friday. TD Cowen boosted their target price on Norfolk Southern from $313.00 to $337.00 and gave the stock a "buy" rating in a research report on Monday. BMO Capital Markets boosted their target price on Norfolk Southern from $305.00 to $310.00 and gave the stock a "market perform" rating in a research report on Monday. Finally, Benchmark reiterated a "hold" rating on shares of Norfolk Southern in a research report on Friday, January 30th. Seven analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $319.44.

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.