Norfolk Southern Corp. (NSC) Shares Sold by Caisse DE Depot ET Placement DU Quebec

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Caisse DE Depot ET Placement DU Quebec trimmed its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 19.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,117 shares of the railroad operator’s stock after selling 21,400 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Norfolk Southern were worth $13,445,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NSC. Schroder Investment Management Group grew its position in Norfolk Southern by 2,147.6% during the 1st quarter. Schroder Investment Management Group now owns 779,690 shares of the railroad operator’s stock worth $105,866,000 after purchasing an additional 745,000 shares in the last quarter. FMR LLC grew its position in Norfolk Southern by 8.6% during the 2nd quarter. FMR LLC now owns 7,036,787 shares of the railroad operator’s stock worth $1,061,640,000 after purchasing an additional 555,871 shares in the last quarter. Millennium Management LLC grew its position in Norfolk Southern by 315.3% during the 1st quarter. Millennium Management LLC now owns 702,698 shares of the railroad operator’s stock worth $95,412,000 after purchasing an additional 533,482 shares in the last quarter. BlackRock Inc. grew its position in Norfolk Southern by 1.6% during the 1st quarter. BlackRock Inc. now owns 21,254,266 shares of the railroad operator’s stock worth $2,885,904,000 after purchasing an additional 329,245 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its position in Norfolk Southern by 99.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 478,486 shares of the railroad operator’s stock worth $64,968,000 after purchasing an additional 238,889 shares in the last quarter. Hedge funds and other institutional investors own 72.46% of the company’s stock.

NSC stock opened at $177.10 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.81 and a quick ratio of 0.70. Norfolk Southern Corp. has a 1 year low of $123.00 and a 1 year high of $177.85. The firm has a market capitalization of $49.00 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, July 25th. The railroad operator reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.19. Norfolk Southern had a net margin of 52.36% and a return on equity of 14.53%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the previous year, the business earned $1.71 EPS. Norfolk Southern’s quarterly revenue was up 9.9% compared to the same quarter last year. equities analysts forecast that Norfolk Southern Corp. will post 9.13 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Monday, August 6th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Friday, August 3rd. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.72. Norfolk Southern’s payout ratio is presently 48.41%.

In related news, Chairman James A. Squires sold 34,077 shares of Norfolk Southern stock in a transaction on Monday, August 13th. The shares were sold at an average price of $171.73, for a total value of $5,852,043.21. Following the completion of the sale, the chairman now owns 63,958 shares of the company’s stock, valued at approximately $10,983,507.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Cynthia C. Earhart sold 2,370 shares of Norfolk Southern stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $175.09, for a total transaction of $414,963.30. Following the completion of the sale, the vice president now directly owns 2,370 shares of the company’s stock, valued at approximately $414,963.30. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.

Several research firms have recently commented on NSC. Stifel Nicolaus set a $180.00 price target on shares of Norfolk Southern and gave the company a “hold” rating in a report on Wednesday, August 8th. Royal Bank of Canada restated a “hold” rating and set a $158.00 price target on shares of Norfolk Southern in a report on Friday, July 13th. Scotiabank restated a “buy” rating and set a $168.00 price target on shares of Norfolk Southern in a report on Wednesday, July 4th. Deutsche Bank upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a report on Tuesday, August 14th. Finally, Zacks Investment Research upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. Norfolk Southern currently has a consensus rating of “Hold” and an average price target of $164.42.

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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