Pictet Asset Management Holding SA Boosts Stock Position in Norfolk Southern Corporation $NSC

Pictet Asset Management Holding SA lifted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 8.2% in the fourth quarter, HoldingsChannel reports. The fund owned 108,508 shares of the railroad operator’s stock after acquiring 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 filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC raised its position in shares of Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after purchasing an additional 36 shares during the period. JPL Wealth Management LLC bought a new position in Norfolk Southern in the 3rd quarter worth $25,000. Westside Investment Management Inc. increased its stake in Norfolk Southern by 207.1% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after buying an additional 58 shares in the last quarter. GoalVest Advisory LLC raised its holdings in 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 acquiring an additional 84 shares during the period. Finally, MMA Asset Management LLC bought a new stake in Norfolk Southern during the third quarter valued at about $28,000. Institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NSC. Royal Bank Of Canada lifted their target price on Norfolk Southern from $310.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. decreased their price target on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. UBS Group lowered Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 price objective for the company. in a research report on Friday, February 6th. Sanford C. Bernstein dropped their price target on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Finally, BMO Capital Markets lifted their price objective on Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday. Six equities research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $320.28.

Norfolk Southern Stock Down 1.4%

Shares of NYSE NSC opened at $312.28 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. Norfolk Southern Corporation has a 12-month low of $218.05 and a 12-month high of $323.37. The firm’s 50-day moving average price is $299.61 and its 200-day moving average price is $294.20. The stock has a market capitalization of $70.14 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 5.89 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the firm posted $2.69 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts anticipate that Norfolk Southern Corporation will post 12.11 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, May 8th. Norfolk Southern’s 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.