OppenheimerFunds Inc. Lowers Position in Norfolk Southern Corp. (NSC)

OppenheimerFunds Inc. lessened its stake in Norfolk Southern Corp. (NYSE:NSC) by 37.9% during the first quarter, HoldingsChannel.com reports. The firm owned 7,018 shares of the railroad operator’s stock after selling 4,280 shares during the period. OppenheimerFunds Inc.’s holdings in Norfolk Southern were worth $953,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. MetLife Investment Advisors LLC bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $12,829,000. TIAA CREF Investment Management LLC raised its holdings in shares of Norfolk Southern by 0.3% in the 4th quarter. TIAA CREF Investment Management LLC now owns 759,130 shares of the railroad operator’s stock worth $109,998,000 after purchasing an additional 2,355 shares during the period. Geode Capital Management LLC raised its holdings in shares of Norfolk Southern by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 2,819,766 shares of the railroad operator’s stock worth $407,666,000 after purchasing an additional 58,309 shares during the period. Certified Advisory Corp bought a new stake in Norfolk Southern during the 4th quarter valued at $137,000. Finally, Baird Financial Group Inc. raised its holdings in Norfolk Southern by 3.4% during the 4th quarter. Baird Financial Group Inc. now owns 96,731 shares of the railroad operator’s stock valued at $14,016,000 after acquiring an additional 3,151 shares during the period. 72.70% of the stock is currently owned by institutional investors.

In related news, CFO Cynthia C. Earhart sold 6,588 shares of the company’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $150.93, for a total value of $994,326.84. Following the completion of the transaction, the chief financial officer now directly owns 6,588 shares in the company, valued at $994,326.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas E. Hurlbut sold 2,762 shares of the company’s stock in a transaction on Friday, April 27th. The stock was sold at an average price of $145.51, for a total transaction of $401,898.62. Following the completion of the transaction, the vice president now owns 5,432 shares of the company’s stock, valued at $790,410.32. The disclosure for this sale can be found here. Insiders sold 14,110 shares of company stock valued at $2,118,405 over the last quarter. 0.36% of the stock is owned by company insiders.

A number of brokerages have issued reports on NSC. Stifel Nicolaus reissued a “hold” rating and set a $158.00 target price on shares of Norfolk Southern in a report on Saturday, June 2nd. Sanford C. Bernstein boosted their target price on shares of Norfolk Southern from $149.00 to $155.00 and gave the company a “market perform” rating in a report on Thursday, April 26th. Loop Capital boosted their target price on shares of Norfolk Southern to $140.00 and gave the company a “sell” rating in a report on Thursday, April 26th. BMO Capital Markets boosted their target price on shares of Norfolk Southern from $156.00 to $160.00 and gave the company a “market perform” rating in a report on Thursday, April 26th. Finally, TD Securities boosted their target price on shares of Norfolk Southern from $155.00 to $160.00 and gave the company a “hold” rating in a report on Thursday, April 26th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company’s stock. Norfolk Southern currently has a consensus rating of “Hold” and a consensus price target of $146.52.

Norfolk Southern opened at $149.98 on Friday, according to Marketbeat Ratings. The firm has a market cap of $42.68 billion, a PE ratio of 22.69, a PEG ratio of 1.47 and a beta of 1.32. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 0.59. Norfolk Southern Corp. has a one year low of $111.44 and a one year high of $158.58.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, April 25th. The railroad operator reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.16. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.68 billion. Norfolk Southern had a net margin of 51.65% and a return on equity of 14.04%. During the same period in the previous year, the business earned $1.48 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. sell-side analysts forecast that Norfolk Southern Corp. will post 8.58 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 11th. Investors of record on Friday, May 4th were given a $0.72 dividend. The ex-dividend date of this dividend was Thursday, May 3rd. This represents a $2.88 annualized dividend and a yield of 1.92%. Norfolk Southern’s dividend payout ratio (DPR) is presently 43.57%.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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

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