Mediolanum International Funds Ltd Has $7.21 Million Position in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Mediolanum International Funds Ltd significantly reduced its stake in Norfolk Southern Corporation by 74.6%, selling 91,831 shares and retaining 31,278 shares valued at approximately $7.2 million.
• Norfolk Southern's recent quarterly earnings report showed an EPS of $2.69, missing estimates and indicating a 0.4% decline in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $1.35 per share, representing an annualized dividend of $5.40 and a yield of 1.91%, with a payout ratio of 36.89%.

Mediolanum International Funds Ltd cut its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 74.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,278 shares of the railroad operator's stock after selling 91,831 shares during the quarter. Mediolanum International Funds Ltd's holdings in Norfolk Southern were worth $7,211,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in NSC. Fourth Dimension Wealth LLC bought a new position in Norfolk Southern in the 4th quarter worth approximately $28,000. Putney Financial Group LLC bought a new position in Norfolk Southern in the 4th quarter worth approximately $30,000. Greenline Partners LLC bought a new position in Norfolk Southern in the 4th quarter worth approximately $31,000. HWG Holdings LP bought a new position in Norfolk Southern in the 1st quarter worth approximately $35,000. Finally, Physician Wealth Advisors Inc. grew its holdings in Norfolk Southern by 129.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock worth $35,000 after buying an additional 84 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Up 1.7%

Norfolk Southern stock traded up $4.67 during mid-day trading on Wednesday, hitting $282.37. 1,568,934 shares of the company's stock were exchanged, compared to its average volume of 1,480,991. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 1.15. The stock has a market cap of $63.66 billion, a P/E ratio of 19.28, a P/E/G ratio of 2.35 and a beta of 1.31. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $288.11. The stock has a 50 day moving average of $257.71 and a two-hundred day moving average of $243.92.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, topping the consensus estimate of $3.24 by $0.05. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. As a group, analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Friday, August 1st. Norfolk Southern's payout ratio is 36.89%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NSC. UBS Group upped their target price on Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Evercore ISI restated an "in-line" rating and issued a $289.00 target price (up from $279.00) on shares of Norfolk Southern in a research report on Wednesday. Sanford C. Bernstein upped their target price on Norfolk Southern from $295.00 to $305.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Jefferies Financial Group restated a "hold" rating and issued a $300.00 target price on shares of Norfolk Southern in a research report on Friday, July 25th. Finally, Barclays increased their price objective on Norfolk Southern from $290.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $284.30.

Norfolk Southern 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.