Pictet Asset Management Holding SA Increases Stake in Norfolk Southern Corporation $NSC

Key Points

• Pictet Asset Management Holding SA increased its stake in Norfolk Southern by 8.2%, adding 8,196 shares to hold 108,508 shares valued at about $31.33 million at quarter-end.
• Norfolk Southern reported quarterly EPS of $2.65 (vs. $2.49 estimate) while revenue of $3.0 billion slightly missed forecasts, and announced a $1.35 quarterly dividend (annualized $5.40) with an ex-dividend date of May 8 and payment on May 20.
• The stock trades around $312 (market cap ≈ $70.1B) with a 12‑month high of $323.37, and analysts carry a consensus Hold rating with an average price target of $320.28.

Pictet Asset Management Holding SA grew its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 8.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 108,508 shares of the railroad operator's stock after buying an additional 8,196 shares during the period. Pictet Asset Management Holding SA's holdings in Norfolk Southern were worth $31,329,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC raised its holdings in Norfolk Southern by 75.0% in the 3rd 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 last quarter. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern in the third quarter worth $25,000. Westside Investment Management Inc. raised its stake in shares of Norfolk Southern by 207.1% in the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator's stock worth $26,000 after purchasing an additional 58 shares during the last quarter. GoalVest Advisory LLC lifted its holdings in shares of Norfolk Southern by 933.3% during the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator's stock valued at $27,000 after purchasing an additional 84 shares in the last quarter. Finally, MMA Asset Management LLC purchased a new stake in shares of Norfolk Southern during the third quarter valued at $28,000. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $312.28 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $70.14 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 5.89 and a beta of 1.31. The firm's 50 day moving average price is $299.61 and its 200-day moving average price is $294.20. Norfolk Southern Corporation has a twelve month low of $218.05 and a twelve month high of $323.37.

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

Norfolk Southern Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Robert W. Baird boosted their target price on Norfolk Southern from $315.00 to $330.00 and gave the stock a "neutral" rating in a research report on Tuesday. Wolfe Research lifted their price target on shares of Norfolk Southern from $350.00 to $355.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 7th. Wall Street Zen raised shares of Norfolk Southern to a "sell" rating in a report on Saturday, April 4th. Jefferies Financial Group lowered their price objective on shares of Norfolk Southern from $350.00 to $310.00 and set a "hold" rating on the stock in a research report on Monday, April 6th. Finally, Rothschild & Co Redburn cut their target price on shares of Norfolk Southern from $317.00 to $308.00 and set a "neutral" rating for the company in a research report on Wednesday, April 1st. Six investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $320.28.

Norfolk Southern Company 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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