Jennison Associates LLC Has $1.57 Million Position in Norfolk Southern Co. (NYSE:NSC)

Jennison Associates LLC lessened its position in Norfolk Southern Co. (NYSE:NSCFree Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,141 shares of the railroad operator’s stock after selling 93 shares during the period. Jennison Associates LLC’s holdings in Norfolk Southern were worth $1,565,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in NSC. Norges Bank bought a new stake in Norfolk Southern during the fourth quarter worth about $556,797,000. American Century Companies Inc. raised its position in Norfolk Southern by 69.0% in the 3rd quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator’s stock valued at $536,319,000 after purchasing an additional 1,112,261 shares during the last quarter. Stifel Financial Corp boosted its stake in Norfolk Southern by 600.3% in the fourth quarter. Stifel Financial Corp now owns 1,021,312 shares of the railroad operator’s stock worth $241,421,000 after purchasing an additional 875,473 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Norfolk Southern by 1,956.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 451,226 shares of the railroad operator’s stock valued at $106,661,000 after buying an additional 429,288 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Norfolk Southern by 23,585.8% in the fourth quarter. International Assets Investment Management LLC now owns 351,261 shares of the railroad operator’s stock valued at $83,031,000 after buying an additional 349,778 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 0.2 %

NSC opened at $213.78 on Wednesday. The company has a market cap of $48.30 billion, a P/E ratio of 34.43, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32. The company has a fifty day moving average price of $223.66 and a two-hundred day moving average price of $238.14. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66.

Norfolk Southern (NYSE:NSCGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.09). The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the company earned $3.32 earnings per share. Analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.53%. Norfolk Southern’s payout ratio is presently 86.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NSC shares. JPMorgan Chase & Co. increased their price objective on shares of Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. TD Cowen raised their price target on shares of Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. Sanford C. Bernstein dropped their price objective on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research report on Monday. Benchmark reiterated a “buy” rating and issued a $277.00 price objective on shares of Norfolk Southern in a research report on Thursday, April 25th. Finally, Stifel Nicolaus boosted their target price on Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.61.

View Our Latest Research Report on Norfolk Southern

Insider Activity

In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sameh Fahmy bought 2,000 shares of the stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the purchase, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Profile

(Free Report)

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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