Whittier Trust Co. of Nevada Inc. Increases Stake in Norfolk Southern Corporation $NSC

Key Points

• Whittier Trust Co. of Nevada increased its Norfolk Southern stake by 5.7% in the first quarter, buying 4,557 additional shares and bringing its total holding to 84,164 shares worth about $24.2 million.
• Institutional ownership remains high at 75.10% of Norfolk Southern’s stock, and several other hedge funds also made modest additions to their positions during the period.
• Analysts are mixed on the railroad operator: the stock has a Hold consensus rating with an average target price of $320.35, while Norfolk Southern recently beat earnings expectations but missed revenue estimates.

Whittier Trust Co. of Nevada Inc. lifted its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 5.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,164 shares of the railroad operator's stock after buying an additional 4,557 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Norfolk Southern were worth $24,244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NSC. Gilbert & Cook Inc. increased its holdings in Norfolk Southern by 1.4% in the 4th quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator's stock valued at $726,000 after acquiring an additional 35 shares during the last quarter. Moss Adams Wealth Advisors LLC boosted its holdings in shares of Norfolk Southern by 4.6% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator's stock valued at $228,000 after purchasing an additional 35 shares during the last quarter. Confluence Wealth Services Inc. boosted its holdings in shares of Norfolk Southern by 1.1% during the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator's stock valued at $892,000 after purchasing an additional 35 shares during the last quarter. Exencial Wealth Advisors LLC grew its position in shares of Norfolk Southern by 1.1% during the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator's stock valued at $929,000 after purchasing an additional 35 shares in the last quarter. Finally, Sovereign Financial Group Inc. increased its holdings in shares of Norfolk Southern by 3.3% in the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator's stock worth $318,000 after purchasing an additional 35 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NSC. Wolfe Research increased their price target on Norfolk Southern from $350.00 to $355.00 and gave the company an "outperform" rating in a research note on Tuesday, April 7th. Sanford C. Bernstein decreased their price objective on Norfolk Southern from $322.00 to $313.00 and set an "outperform" rating on the stock in a report on Tuesday, March 31st. Citigroup reiterated a "neutral" rating on shares of Norfolk Southern in a research report on Friday, April 24th. JPMorgan Chase & Co. cut their target price on shares of Norfolk Southern from $296.00 to $292.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. Finally, Weiss Ratings cut shares of Norfolk Southern from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat, Norfolk Southern presently has a consensus rating of "Hold" and an average target price of $320.35.

Norfolk Southern Stock Performance

NYSE:NSC opened at $322.85 on Monday. The firm has a market capitalization of $72.51 billion, a PE ratio of 27.20, a PEG ratio of 5.96 and a beta of 1.27. The stock's fifty day moving average is $312.52 and its 200 day moving average is $302.01. Norfolk Southern Corporation has a fifty-two week low of $257.49 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping 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 firm earned $2.69 earnings per share. Norfolk Southern's quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Norfolk Southern Corporation will post 12.12 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern's dividend payout ratio is presently 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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