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The Revenue Department of the State of Alaska has increased its stake in Norfolk Southern Corp. (NYSE: NSC) up 14.0% in the second quarter, according to its latest publication with the SEC (Securities and Exchange Commission) The fund owned 44,518 shares of the rail operator after buying 5,470 additional shares During the quarter, the holdings of the Alaska Revenue Department in Norfolk Southern rose to $ 6,715,000. A number of other hedge funds and other institutional investors have recently purchased and sold shares of NSC Schroder Investment Management Group has increased its holdings of Norfolk Southern shares by 2,147.6% over the past year. 1st trimester. The management group now holds 779,690 shares of the rail operator worth $ 105,866,000 after acquiring an additional 745,000 shares in the last quarter. ennium Management LLC increased its position in Norfolk Southern shares by 315.3% in the first quarter. Millennium Management LLC now holds 702,698 shares of the $ 95,412,000 railway operator after acquiring 533,482 additional shares during the last quarter. BlackRock Inc. increased its position in Norfolk Southern shares by 1.6% in the first quarter. BlackRock Inc. now holds 21,254,266 shares of the Railway Undertaking, valued at $ 2,885,904,000, after acquiring an additional 329,245 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its position in Norfolk Southern stocks by 99.7% in the first quarter. Amundi Pioneer Asset Management Inc. now holds 478,486 shares of the railway operator worth $ 64,968,000 after acquiring an additional 238,889 shares during the last quarter. Finally, Summit Trail Advisors LLC increased its position in Norfolk Southern stocks by 12,734.9% in the first quarter. Summit Trail Advisors LLC now holds 191,497 shares of the $ 191,000 railway operator after acquiring 190,005 additional shares during the last quarter. 72.65% of the shares are currently held by institutional investors.
Norfolk Southern fell $ 1.33 to $ 168.24 on Friday, according to MarketBeat. 1,863,182 shares were exchanged for an average volume of 1,749,835 shares. The company has a debt ratio of 0.55, a ratio of 0.81 and a ratio of 0.94. Norfolk Southern Corp. has a 52-week low of $ 111.44 and a high of $ 52.81 in 52 weeks. The stock has a market capitalization of 47.11 billion, a PE ratio of 21.38, a PEG ratio of 1.59 and a beta of 1.31.
Norfolk Southern (NYSE: NSC) last announced its quarterly results on Wednesday, July 25. The railway operator reported earnings per share (EPS) of $ 2.50 for the quarter, topping the consensus estimate of $ 2.31 by $ 0.19. The company achieved a turnover of $ 2.90 billion during the quarter, compared to the consensus estimate of $ 2.87 billion. Norfolk Southern recorded a net margin of 52.36% and a return on equity of 14.53%. The company's sales figure for the quarter grew 9.9% over the same quarter of last year. During the same period last year, the company earned $ 1.71 per share. sell-side analysts expect Norfolk Southern Corp. will post 8.92 earnings per share for the current year.
The company has also recently unveiled a quarterly dividend that will be paid on Monday, September 10th. Investors listed on Monday, August 6 will receive a dividend of $ 0.80. This represents a dividend of $ 3.20 on an annualized basis and a return of 1.90%. This is an increase from Norfolk Southern's previous quarterly dividend of $ 0.72. The ex-dividend date is Friday, August 3rd. Norfolk Southern's dividend payout ratio is currently 43.57%.
In addition, Cynthia C. Earhart, the chief financial officer, sold 6,588 shares during a transaction on Thursday, May 10. The stock was sold at an average price of $ 150.93, for a total value of $ 994,326.84. Following the conclusion of the sale, the Chief Financial Officer directly holds 6,588 shares of the Company, valued at $ 994,326.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC's website. In addition, Vice President Thomas E. Hurlbut sold 2,760 shares of stock in a transaction dated Friday, May 11. The stock was sold at an average price of $ 152.00, for a total value of $ 419,520.00. As a result of the sale, the Vice-President now holds 2,760 shares of the Company, valued at $ 419,520. The disclosure for this sale can be found here. Insiders sold 11,348 shares valued at $ 1,716,507 in the last 90 days. 0.36% of the stock is currently owned by insiders of the company.
NSC has been the subject of several recent research reports. Morgan Stanley raised its target price from $ 100 to $ 103 to Norfolk Southern and awarded the company an "underweight" rating in a research report on Thursday, April 26. Scotiabank set a price target of $ 175.00 on Norfolk Southern and assigned a "buy" note to the stock in a research report released on Wednesday. Sanford C. Bernstein increased his price target on Norfolk Southern from $ 149.00 to $ 155.00 and awarded the title a "market performance" rating in a report on Thursday, April 26th. Royal Bank of Canada reinstated a "withholding" rating and set a price target of $ 158.00 on Norfolk Southern shares in a report on Friday, July 13. Finally, Credit Suisse Group raised its target price on Norfolk Southern from $ 155.00 to $ 165.00 and awarded the stock an "outperformance" rating in a report on Thursday, April 26th. Two analysts evaluated the stock with a sales note, thirteen issued a blocking note and nine attributed a purchase note to the company. The company currently has a consensual rating of "Hold" and a consensus price target of $ 153.30
Norfolk Southern Profile
Norfolk Southern Corporation, with its subsidiaries, is committed to in the rail transport of raw materials. materials, intermediate products and finished products. It also carries cargo overseas through various ports in the Atlantic and Gulf Coast, as well as coal products, automotive and industry;
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