Penserra Capital Management LLC Decreases Stake in Norfolk Southern Corp. (NSC)

Penserra Capital Management LLC reduced its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 10.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,023 shares of the railroad operator’s stock after selling 125 shares during the quarter. Penserra Capital Management LLC’s holdings in Norfolk Southern were worth $190,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bruderman Asset Management LLC bought a new position in shares of Norfolk Southern during the 4th quarter worth approximately $26,000. Intercontinental Wealth Advisors LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $27,000. Pinnacle Bank acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $33,000. PRW Wealth Management LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $36,000. Finally, Athena Capital Advisors LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $39,000. 72.86% of the stock is owned by institutional investors.

NSC stock opened at $199.27 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The firm has a market cap of $53.00 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.53 and a beta of 1.44. Norfolk Southern Corp. has a fifty-two week low of $138.65 and a fifty-two week high of $211.46.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.34. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.93 EPS. As a group, equities analysts expect that Norfolk Southern Corp. will post 10.82 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, May 2nd. Norfolk Southern’s payout ratio is 36.17%.

NSC has been the subject of several recent analyst reports. TD Securities increased their price objective on Norfolk Southern from $185.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 12th. Citigroup increased their price objective on Norfolk Southern from $200.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Credit Suisse Group increased their price objective on Norfolk Southern from $181.00 to $195.00 and gave the company an “outperform” rating in a report on Tuesday, February 12th. Morgan Stanley increased their price objective on Norfolk Southern from $133.00 to $138.00 and gave the company an “underweight” rating in a report on Monday, April 29th. Finally, Cowen reissued an “outperform” rating and issued a $230.00 price objective (up previously from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. Norfolk Southern currently has an average rating of “Buy” and a consensus price target of $202.06.

In other Norfolk Southern news, Chairman James A. Squires sold 3,024 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $204.71, for a total transaction of $619,043.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Michael Joseph Wheeler sold 2,500 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $204.57, for a total value of $511,425.00. Following the transaction, the chief operating officer now owns 12,919 shares in the company, valued at approximately $2,642,839.83. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

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About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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

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