TD Asset Management Inc Increases Position in Norfolk Southern Corporation $NSC

TD Asset Management Inc grew its holdings in Norfolk Southern Corporation (NYSE:NSC) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,721 shares of the railroad operator’s stock after purchasing an additional 2,707 shares during the quarter. TD Asset Management Inc’s holdings in Norfolk Southern were worth $24,749,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NSC. Vanguard Group Inc. increased its holdings in shares of Norfolk Southern by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock valued at $6,012,836,000 after purchasing an additional 272,651 shares during the last quarter. Geode Capital Management LLC lifted its position in Norfolk Southern by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock worth $1,401,797,000 after buying an additional 36,205 shares in the last quarter. Norges Bank acquired a new position in Norfolk Southern during the fourth quarter worth $1,084,701,000. Pentwater Capital Management LP purchased a new stake in Norfolk Southern in the 3rd quarter valued at $826,128,000. Finally, Dimensional Fund Advisors LP grew its holdings in Norfolk Southern by 5.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,179,610 shares of the railroad operator’s stock valued at $654,757,000 after buying an additional 118,697 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on NSC. Rothschild & Co Redburn lifted their price target on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. dropped their price objective 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. Argus upgraded shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, February 25th. TD Cowen lifted their target price on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, Royal Bank Of Canada increased their price target on shares of Norfolk Southern from $310.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $322.71.

Norfolk Southern Stock Up 0.1%

Shares of NYSE:NSC opened at $313.88 on Monday. The company has a market capitalization of $70.49 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 5.79 and a beta of 1.27. Norfolk Southern Corporation has a 12-month low of $247.85 and a 12-month high of $326.00. The business has a 50-day moving average price of $305.69 and a 200 day moving average price of $299.20. 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 (NYSE:NSC) last announced its earnings results 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 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 quarter last year, the firm posted $2.69 earnings per share. Norfolk Southern’s revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that Norfolk Southern Corporation will post 12.11 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $1.35 dividend. 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 (DPR) is 45.49%.

About Norfolk Southern

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.