Capital Research & Management Co recently announced the acquisition of new stake in Norfolk Southern Corporation (NYSE:NSC). The institutional investor has increased its shareholding in the Industrials company by 3.56% to 7.76 million shares with purchase of 0.27 million shares. This fresh investment now brings its stake to 3.41% valued currently at $1.58 billion. In addition, Capital Research & Management Co raised its holdings by 0.34 million to 6.14 million shares. And Lazard Asset Management Pacific C has lifted its position by 11.67% or 0.44 million shares – to 4.19 million shares.
With over 2.13 million Norfolk Southern Corporation (NSC) shares trading Friday and a closing price of $217.74 on the day, the dollar volume was approximately $463.14 million. The shares have shown a negative half year performance of -12.81% and its price on 05/19/23 gained nearly 0.73%. Currently, there are 227.70M common shares owned by the public and among those 227.46M shares have been available to trade.
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Insiders at the company have transacted a total of 102 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 45 of these insider trades were purchases, accounting for 161,373 shares. Insider sales of the common stock occurred on 57 occasions, with total insider shares sold totaling 152,848 shares.
The top 3 mutual fund holders in Norfolk Southern Corporation are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Washington Mutual Investors Fund. Vanguard Total Stock Market ETF owns 7.05 million shares of the company’s stock, all valued at over $1.43 billion. The company sold 72273.0 shares recently to bring their total holdings to about 3.10% of the shares outstanding. Vanguard 500 Index Fund sold 60250.0 shares to see its total holdings shrink to 5.32 million shares valued at over $1.08 billion and representing 2.34% of the shares outstanding. Washington Mutual Investors Fund bought 0.26 million shares to bring its total holdings to over 5.25 million shares at a value of $1.07 billion. Washington Mutual Investors Fund now owns shares totaling to 2.31% of the shares outstanding.
Shares of Norfolk Southern Corporation (NYSE: NSC) opened at $217.80, up $1.63 from a prior closing price of $216.17. However, the script later moved the day high at 218.74, up 0.73%. The company’s stock has a 5-day price change of 2.75% and -4.56% over the past three months. NSC shares are trading -11.64% year to date (YTD), with the 12-month market performance down to -8.35% lower. It has a 12-month low price of $196.33 and touched a high of $264.22 over the same period. NSC has an average intraday trading volume of 1.66 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.52%, 5.08%, and -5.99% respectively.
Institutional ownership of Norfolk Southern Corporation (NYSE: NSC) shares accounts for 76.80% of the company’s 227.70M shares outstanding. Mutual fund holders own 35.54%, while other institutional holders and individual stakeholders account for 39.82% and 1.52% respectively.
It has a market capitalization of $49.21B and a beta (3y monthly) value of 1.27. The stock’s trailing 12-month PE ratio is 16.76, while the earnings-per-share (ttm) stands at $12.99. The company has a PEG of 3.06 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 1.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.88% over the week and 2.16% over the month.
Analysts forecast that Norfolk Southern Corporation (NSC) will achieve an EPS of $3.24 for the current quarter, $3.42 for the next quarter and $14.42 for 2024. The lowest estimate earnings-per-share for the quarter is $2.94 while analysts give the company a high EPS estimate of $3.43. Comparatively, EPS for the current quarter was $3.45 a year ago. Earnings per share for the fiscal year are expected to increase by 14.50%, and 8.04% over the next financial year. EPS should shrink at an annualized rate of 5.47% over the next five years, compared to 14.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 29 brokerage firm advisors rate Norfolk Southern Corporation (NSC) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 17 of the 29 advise that investors “hold,” and 0 rated it as a “Sell.”
