Norfolk Southern Corporation (NYSE:NSC) Shares Sold by Norris Perne & French LLP MI

Norris Perne & French LLP MI decreased its position in Norfolk Southern Corporation (NYSE:NSC) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,290 shares of the railroad operator’s stock after selling 300 shares during the quarter. Norris Perne & French LLP MI’s holdings in Norfolk Southern were worth $542,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in NSC. Strategic Investment Solutions Inc. IL boosted its holdings in shares of Norfolk Southern by 16.9% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator’s stock valued at $71,000 after purchasing an additional 44 shares during the last quarter. CoreCap Advisors LLC raised its position in shares of Norfolk Southern by 1.5% in the 4th quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator’s stock worth $727,000 after buying an additional 45 shares during the period. Shayne & Jacobs LLC boosted its holdings in Norfolk Southern by 1.5% in the fourth quarter. Shayne & Jacobs LLC now owns 3,327 shares of the railroad operator’s stock valued at $781,000 after acquiring an additional 50 shares during the last quarter. Malaga Cove Capital LLC grew its position in Norfolk Southern by 2.1% during the fourth quarter. Malaga Cove Capital LLC now owns 2,451 shares of the railroad operator’s stock valued at $575,000 after acquiring an additional 50 shares during the period. Finally, Salem Investment Counselors Inc. increased its stake in Norfolk Southern by 1.2% during the first quarter. Salem Investment Counselors Inc. now owns 4,241 shares of the railroad operator’s stock worth $1,004,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.8%

Shares of NYSE:NSC opened at $252.42 on Thursday. The firm has a market cap of $56.91 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.97 and a beta of 1.32. The company has a fifty day simple moving average of $234.93 and a 200 day simple moving average of $239.62. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 1.15. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $277.60.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm posted $2.49 EPS. Norfolk Southern’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Friday, May 2nd. Norfolk Southern’s payout ratio is currently 36.89%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Jefferies Financial Group reduced their price objective on Norfolk Southern from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Evercore ISI reduced their price target on shares of Norfolk Southern from $284.00 to $269.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective for the company. Susquehanna reduced their target price on shares of Norfolk Southern from $260.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, Bank of America increased their price target on Norfolk Southern from $267.00 to $280.00 and gave the company a “buy” rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.24.

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.