Norfolk Southern Co. (NYSE:NSC) Shares Sold by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc trimmed its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 20.7% in the 1st quarter, HoldingsChannel reports. The firm owned 52,782 shares of the railroad operator’s stock after selling 13,755 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Norfolk Southern were worth $12,501,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Financial Life Planners acquired a new position in Norfolk Southern during the 4th quarter worth approximately $27,000. Keystone Financial Group Inc. acquired a new position in shares of Norfolk Southern during the fourth quarter worth $27,000. Bank of Jackson Hole Trust acquired a new position in shares of Norfolk Southern during the 4th quarter worth about $27,000. Vision Financial Markets LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $28,000. Finally, Fourth Dimension Wealth LLC acquired a new position in Norfolk Southern in the fourth quarter valued at $28,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $248.15 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The company has a market cap of $55.94 billion, a P/E ratio of 21.47, a PEG ratio of 2.31 and a beta of 1.30. Norfolk Southern Co. has a 52 week low of $201.63 and a 52 week high of $277.60. The company has a 50-day moving average price of $228.60 and a 200 day moving average price of $240.86.

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

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Friday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is currently 36.89%.

Analysts Set New Price Targets

Several equities analysts have issued reports on NSC shares. UBS Group upped their price objective on shares of Norfolk Southern from $275.00 to $279.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Deutsche Bank Aktiengesellschaft began coverage on Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 target price for the company. BMO Capital Markets reissued a “market perform” rating and issued a $255.00 price objective on shares of Norfolk Southern in a report on Thursday, April 24th. Royal Bank of Canada decreased their price objective on Norfolk Southern from $271.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Finally, Barclays decreased their price target on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $267.24.

Norfolk Southern Profile

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.