Norfolk Southern Corporation $NSC Stock Holdings Trimmed by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp trimmed its Norfolk Southern stake by 10.4% in Q4, selling 11,226 shares and retaining 96,494 shares valued at $27.86 million.
• Major institutional moves included Vanguard boosting its holding to 20,825,837 shares (~$6.01B) and UBS adding 1,103,748 shares (a 545% increase), leaving 75.10% of NSC owned by institutions and hedge funds.
• Norfolk Southern beat Q1 EPS estimates ($2.65 vs. $2.49), carries an average analyst rating of "Hold" with a consensus price target of $320.67, and announced a $1.35 quarterly dividend (ex-dividend May 8; yield ~1.7%).

Fifth Third Bancorp reduced its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,494 shares of the railroad operator's stock after selling 11,226 shares during the quarter. Fifth Third Bancorp's holdings in Norfolk Southern were worth $27,860,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Norfolk Southern by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator's stock valued at $6,012,836,000 after acquiring an additional 272,651 shares during the period. Pentwater Capital Management LP acquired a new position in Norfolk Southern in the third quarter valued at approximately $826,128,000. Dimensional Fund Advisors LP boosted its stake in Norfolk Southern by 5.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,179,610 shares of the railroad operator's stock valued at $654,757,000 after acquiring an additional 118,697 shares during the period. Legal & General Group Plc boosted its stake in Norfolk Southern by 4.6% in the third quarter. Legal & General Group Plc now owns 1,744,074 shares of the railroad operator's stock valued at $523,937,000 after acquiring an additional 76,751 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Norfolk Southern by 545.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator's stock valued at $392,396,000 after acquiring an additional 1,103,748 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on NSC. Wall Street Zen upgraded Norfolk Southern from a "sell" rating to a "hold" rating in a research note on Saturday. Royal Bank Of Canada lifted their target price on Norfolk Southern from $310.00 to $360.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. BMO Capital Markets lifted their target price on Norfolk Southern from $305.00 to $310.00 and gave the company a "market perform" rating in a research note on Monday, April 27th. Sanford C. Bernstein decreased their target price on Norfolk Southern from $322.00 to $313.00 and set an "outperform" rating for the company in a research note on Tuesday, March 31st. Finally, Barclays increased their price objective on Norfolk Southern from $320.00 to $360.00 and gave the stock an "overweight" rating in a report on Monday. Six analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. According to MarketBeat.com, Norfolk Southern presently has an average rating of "Hold" and a consensus price target of $320.67.

Norfolk Southern Stock Performance

NSC opened at $316.26 on Friday. The company has a market capitalization of $71.03 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 5.84 and a beta of 1.30. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. Norfolk Southern Corporation has a 1-year low of $218.05 and a 1-year high of $323.37. The business has a 50 day moving average price of $299.64 and a two-hundred day moving average price of $294.35.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.49 by $0.16. The firm had revenue of $3 billion during 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%.The firm's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.69 earnings per share. Research analysts predict that Norfolk Southern Corporation will post 12.11 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

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

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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