Norfolk Southern Corporation $NSC Position Cut by Sanctuary Advisors LLC

Sanctuary Advisors LLC lowered its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 9.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,193 shares of the railroad operator’s stock after selling 4,102 shares during the period. Sanctuary Advisors LLC’s holdings in Norfolk Southern were worth $10,961,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Norfolk Southern during the fourth quarter valued at about $1,084,701,000. Pentwater Capital Management LP acquired a new position in Norfolk Southern during the 3rd quarter valued at about $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Norfolk Southern by 545.2% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock worth $392,396,000 after acquiring an additional 1,103,748 shares during the period. Balyasny Asset Management L.P. bought a new position in shares of Norfolk Southern in the third quarter valued at approximately $329,629,000. Finally, HBK Investments L P increased its stake in shares of Norfolk Southern by 67.7% during the fourth quarter. HBK Investments L P now owns 2,130,000 shares of the railroad operator’s stock valued at $614,974,000 after acquiring an additional 860,000 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NYSE NSC opened at $337.98 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. Norfolk Southern Corporation has a 1 year low of $264.01 and a 1 year high of $339.77. The company has a market cap of $75.91 billion, a PE ratio of 28.47, a PEG ratio of 6.00 and a beta of 1.27. The stock’s 50-day moving average price is $314.23 and its two-hundred day moving average price is $304.16.

Norfolk Southern (NYSE:NSC) last released its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the firm posted $2.69 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts predict that Norfolk Southern Corporation will post 12.24 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s payout ratio is presently 45.49%.

Analyst Ratings Changes

A number of research firms have weighed in on NSC. Citigroup upped their target price on Norfolk Southern from $335.00 to $351.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. TD Cowen raised their target price on Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Royal Bank Of Canada dropped their price target on shares of Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a research report on Wednesday, June 24th. Rothschild & Co Redburn raised their price objective on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company boosted their target price on shares of Norfolk Southern from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $329.35.

Norfolk Southern Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.