Lakeview Capital Partners LLC lifted its holdings in Norfolk Southern Corp. (NYSE:NSC) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,081 shares of the railroad operator’s stock after buying an additional 90 shares during the period. Lakeview Capital Partners LLC’s holdings in Norfolk Southern were worth $374,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Cox Capital Mgt LLC increased its stake in shares of Norfolk Southern by 2.5% in the second quarter. Cox Capital Mgt LLC now owns 5,069 shares of the railroad operator’s stock worth $1,010,000 after buying an additional 122 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Norfolk Southern by 10.2% during the second quarter. Private Trust Co. NA now owns 2,832 shares of the railroad operator’s stock valued at $564,000 after acquiring an additional 263 shares during the period. DNB Asset Management AS lifted its holdings in Norfolk Southern by 21.8% in the second quarter. DNB Asset Management AS now owns 61,233 shares of the railroad operator’s stock worth $12,206,000 after purchasing an additional 10,974 shares during the period. WINTON GROUP Ltd lifted its holdings in Norfolk Southern by 145.9% in the second quarter. WINTON GROUP Ltd now owns 238,265 shares of the railroad operator’s stock worth $47,493,000 after purchasing an additional 141,363 shares during the period. Finally, Carroll Financial Associates Inc. lifted its holdings in Norfolk Southern by 3.7% in the second quarter. Carroll Financial Associates Inc. now owns 6,041 shares of the railroad operator’s stock worth $1,204,000 after purchasing an additional 216 shares during the period. 72.95% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have commented on NSC shares. Zacks Investment Research upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating and set a $182.00 price target on the stock in a research report on Friday, October 11th. UBS Group dropped their target price on Norfolk Southern from $230.00 to $216.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. BMO Capital Markets dropped their target price on Norfolk Southern from $200.00 to $195.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Bank of America downgraded Norfolk Southern from a “buy” rating to a “neutral” rating and set a $198.00 target price on the stock. in a report on Wednesday, October 23rd. Finally, Wells Fargo & Co assumed coverage on Norfolk Southern in a report on Monday, October 28th. They issued a “market perform” rating and a $216.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Norfolk Southern has an average rating of “Hold” and a consensus target price of $204.29.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, October 23rd. The railroad operator reported $2.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.57 by ($0.08). The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.86 billion. Norfolk Southern had a net margin of 23.98% and a return on equity of 18.22%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.52 EPS. As a group, analysts expect that Norfolk Southern Corp. will post 10.23 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.76 dividend on an annualized basis and a yield of 1.92%. Norfolk Southern’s payout ratio is currently 39.54%.
About Norfolk Southern
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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