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

Taylor Financial Group Inc. decreased its holdings in Norfolk Southern Corporation (NYSE:NSC) by 0.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 83,934 shares of the railroad operator’s stock after selling 79 shares during the period. Norfolk Southern makes up approximately 13.8% of Taylor Financial Group Inc.’s investment portfolio, making the stock its 2nd largest position. Taylor Financial Group Inc.’s holdings in Norfolk Southern were worth $19,880,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Golden State Wealth Management LLC boosted its position in shares of Norfolk Southern by 883.3% during the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock worth $42,000 after purchasing an additional 159 shares during the period. Dynamic Advisor Solutions LLC lifted its position in shares of Norfolk Southern by 1.9% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator’s stock worth $846,000 after purchasing an additional 65 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Norfolk Southern by 4.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator’s stock worth $16,925,000 after purchasing an additional 2,782 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Norfolk Southern by 8.3% during the 1st quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator’s stock worth $990,000 after purchasing an additional 321 shares during the last quarter. Finally, Brevan Howard Capital Management LP lifted its position in shares of Norfolk Southern by 472.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 43,054 shares of the railroad operator’s stock worth $10,105,000 after purchasing an additional 35,531 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Ratings Changes

NSC has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price objective on shares of Norfolk Southern from $265.00 to $247.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Susquehanna reiterated a “neutral” rating and set a $260.00 price target (up from $250.00) on shares of Norfolk Southern in a research note on Tuesday, June 24th. UBS Group lifted their price target on shares of Norfolk Southern from $275.00 to $279.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Baird R W upgraded shares of Norfolk Southern to a “hold” rating in a research note on Tuesday, July 1st. Finally, Royal Bank Of Canada lowered shares of Norfolk Southern from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, July 29th. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $285.15.

Norfolk Southern Stock Down 0.2%

Shares of NYSE:NSC opened at $279.82 on Friday. The company has a market cap of $62.85 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 2.49 and a beta of 1.31. The firm’s 50-day simple moving average is $263.58 and its 200-day simple moving average is $245.87. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $288.11.

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

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 1st will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. Norfolk Southern’s payout ratio is currently 36.49%.

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.