Norfolk Southern Corporation (NYSE:NSC) Shares Sold by SPC Financial Inc.

SPC Financial Inc. trimmed its holdings in Norfolk Southern Corporation (NYSE:NSC) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,566 shares of the railroad operator’s stock after selling 60 shares during the period. SPC Financial Inc.’s holdings in Norfolk Southern were worth $371,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new stake in Norfolk Southern in the 4th quarter worth about $28,000. Putney Financial Group LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $30,000. Greenline Partners LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $31,000. HWG Holdings LP acquired a new position in shares of Norfolk Southern in the 1st quarter valued at about $35,000. Finally, Physician Wealth Advisors Inc. lifted its stake in shares of Norfolk Southern by 129.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator’s stock valued at $35,000 after purchasing an additional 84 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

NSC stock opened at $274.57 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $288.11. The stock’s 50 day moving average is $259.97 and its two-hundred day moving average is $244.73. The company has a market capitalization of $61.67 billion, a PE ratio of 18.55, a P/E/G ratio of 2.44 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $0.05. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 1st. Norfolk Southern’s payout ratio is 36.49%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NSC. Barclays lifted their price objective on Norfolk Southern from $290.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday. Evercore ISI reaffirmed an “in-line” rating and issued a $289.00 price objective (up from $279.00) on shares of Norfolk Southern in a research note on Wednesday. Sanford C. Bernstein lifted their price objective on Norfolk Southern from $295.00 to $305.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Benchmark lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Baird R W raised Norfolk Southern to a “hold” rating in a research report on Tuesday, July 1st. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Hold” and an average price target of $285.15.

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.