Victory Capital Management Inc. Has $23.21 Million Holdings in Norfolk Southern Corporation $NSC

Victory Capital Management Inc. trimmed its holdings in Norfolk Southern Corporation (NYSE:NSC) by 11.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,249 shares of the railroad operator’s stock after selling 10,381 shares during the period. Victory Capital Management Inc.’s holdings in Norfolk Southern were worth $23,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Kingsview Wealth Management LLC lifted its position in shares of Norfolk Southern by 0.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 9,315 shares of the railroad operator’s stock valued at $2,798,000 after acquiring an additional 68 shares during the period. Elo Mutual Pension Insurance Co raised its stake in Norfolk Southern by 11.7% in the third quarter. Elo Mutual Pension Insurance Co now owns 15,143 shares of the railroad operator’s stock valued at $4,549,000 after purchasing an additional 1,587 shares in the last quarter. WASHINGTON TRUST Co bought a new stake in Norfolk Southern during the third quarter worth about $595,000. Fisher Asset Management LLC grew its stake in Norfolk Southern by 7.5% during the third quarter. Fisher Asset Management LLC now owns 1,133,629 shares of the railroad operator’s stock worth $340,554,000 after buying an additional 79,049 shares in the last quarter. Finally, Journey Strategic Wealth LLC increased its holdings in Norfolk Southern by 6.0% in the 3rd quarter. Journey Strategic Wealth LLC now owns 899 shares of the railroad operator’s stock valued at $270,000 after buying an additional 51 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Performance

NYSE:NSC opened at $302.37 on Tuesday. The stock’s 50-day moving average is $300.30 and its 200-day moving average is $291.77. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $319.94. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. The stock has a market cap of $67.90 billion, a P/E ratio of 23.72, a price-to-earnings-growth ratio of 5.47 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the firm posted $3.04 EPS. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, February 6th. Norfolk Southern’s dividend payout ratio is presently 42.35%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Norfolk Southern from $300.00 to $350.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft downgraded Norfolk Southern from a “buy” rating to a “hold” rating and reduced their target price for the company from $354.00 to $297.00 in a report on Thursday, December 11th. Sanford C. Bernstein lowered their price target on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Finally, Morgan Stanley raised Norfolk Southern from an “equal weight” rating to a “buy” rating in a research note on Thursday, December 18th. Seven analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company’s stock. According to MarketBeat, Norfolk Southern has a consensus rating of “Hold” and a consensus target price of $308.95.

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.