Ascent Group LLC Sells 2,960 Shares of Norfolk Southern Co. (NYSE:NSC)

Ascent Group LLC cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 42.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,950 shares of the railroad operator’s stock after selling 2,960 shares during the quarter. Ascent Group LLC’s holdings in Norfolk Southern were worth $927,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NSC. Financial Life Planners bought a new stake in Norfolk Southern during the fourth quarter valued at about $27,000. Keystone Financial Group Inc. bought a new stake in shares of Norfolk Southern in the fourth quarter worth about $27,000. Bank of Jackson Hole Trust bought a new stake in shares of Norfolk Southern in the fourth quarter worth about $27,000. Vision Financial Markets LLC bought a new stake in shares of Norfolk Southern in the fourth quarter worth about $28,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Norfolk Southern in the fourth quarter worth about $28,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Up 0.3%

Shares of NYSE:NSC opened at $240.30 on Tuesday. Norfolk Southern Co. has a 1 year low of $201.63 and a 1 year high of $277.60. The business has a 50 day simple moving average of $227.25 and a two-hundred day simple moving average of $241.56. The firm has a market capitalization of $54.17 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the firm earned $2.49 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. On average, equities analysts predict that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were given a dividend of $1.35 per share. The ex-dividend date was Friday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.25%. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.89%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NSC shares. Susquehanna reduced their target price on Norfolk Southern from $260.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus reduced their target price on Norfolk Southern from $265.00 to $247.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Evercore ISI reduced their target price on Norfolk Southern from $284.00 to $269.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Bank of America lifted their target price on Norfolk Southern from $267.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Finally, Citigroup dropped their price target on Norfolk Southern from $298.00 to $259.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $266.50.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.