Headlands Technologies LLC Has $1.06 Million Position in Norfolk Southern Corporation $NSC

Headlands Technologies LLC decreased its stake in Norfolk Southern Corporation (NYSE:NSC) by 31.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,385 shares of the railroad operator’s stock after selling 1,571 shares during the period. Headlands Technologies LLC’s holdings in Norfolk Southern were worth $1,065,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Norfolk Southern during the 2nd quarter valued at approximately $5,033,549,000. State Street Corp lifted its position in shares of Norfolk Southern by 4.1% in the 4th quarter. State Street Corp now owns 9,710,549 shares of the railroad operator’s stock worth $2,803,630,000 after purchasing an additional 379,819 shares during the period. Geode Capital Management LLC boosted its stake in shares of Norfolk Southern by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock valued at $1,401,797,000 after purchasing an additional 36,205 shares during the last quarter. Norges Bank bought a new stake in shares of Norfolk Southern in the 4th quarter valued at $1,084,701,000. Finally, Bank of America Corp DE acquired a new stake in shares of Norfolk Southern during the second quarter worth $978,977,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $331.67 on Wednesday. The firm’s 50-day moving average price is $334.25 and its 200-day moving average price is $315.37. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60. The firm has a market capitalization of $74.50 billion, a P/E ratio of 28.30, a P/E/G ratio of 5.14 and a beta of 1.27. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the business posted $3.29 EPS. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities research analysts anticipate that Norfolk Southern Corporation will post 12.74 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.08%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Benchmark restated a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. TD Cowen lifted their price objective on Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. boosted their price objective on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Royal Bank Of Canada raised their target price on Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Finally, Evercore set a $358.00 target price on Norfolk Southern in a report on Thursday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $348.00.

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.