Union Savings Bank Takes Position in Norfolk Southern Corporation $NSC

Union Savings Bank purchased a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 4,578 shares of the railroad operator’s stock, valued at approximately $1,322,000.

Several other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in Norfolk Southern during the 4th quarter worth $1,084,701,000. Pentwater Capital Management LP purchased a new stake in shares of Norfolk Southern in the third quarter valued at about $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Norfolk Southern by 545.2% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock worth $392,396,000 after buying an additional 1,103,748 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Norfolk Southern during the third quarter worth about $329,629,000. Finally, HBK Investments L P grew its holdings in shares of Norfolk Southern by 67.7% during the fourth quarter. HBK Investments L P now owns 2,130,000 shares of the railroad operator’s stock worth $614,974,000 after buying an additional 860,000 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on NSC. Sanford C. Bernstein reduced their price objective 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. Citigroup reissued a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. Rothschild & Co Redburn upped their price target on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Barclays increased their price target on Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, BMO Capital Markets lifted their price objective on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a research report on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $322.71.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $299.81 on Friday. Norfolk Southern Corporation has a 52 week low of $251.62 and a 52 week high of $326.00. The company has a 50-day moving average price of $309.83 and a 200 day moving average price of $300.61. The company has a market cap of $67.33 billion, a P/E ratio of 25.26, a PEG ratio of 5.54 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC) last released its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) 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 quarter in the previous year, the firm posted $2.69 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. Research analysts predict that Norfolk Southern Corporation will post 12.12 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $1.35 dividend. The ex-dividend date was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.8%. Norfolk Southern’s payout ratio is 45.49%.

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.