Norfolk Southern Corporation $NSC Stock Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lessened its position in Norfolk Southern Corporation (NYSE:NSC) by 51.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,201 shares of the railroad operator’s stock after selling 32,652 shares during the period. New York Life Investment Management LLC’s holdings in Norfolk Southern were worth $9,641,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. 71 West Capital Partners grew its holdings in Norfolk Southern by 7.4% in the 3rd quarter. 71 West Capital Partners now owns 1,875 shares of the railroad operator’s stock worth $579,000 after buying an additional 130 shares in the last quarter. Creekside Partners raised its stake in Norfolk Southern by 59.5% during the 3rd quarter. Creekside Partners now owns 1,568 shares of the railroad operator’s stock valued at $485,000 after acquiring an additional 585 shares in the last quarter. Vestor Capital LLC raised its stake in Norfolk Southern by 1,827.8% during the 3rd quarter. Vestor Capital LLC now owns 16,386 shares of the railroad operator’s stock valued at $5,063,000 after acquiring an additional 15,536 shares in the last quarter. AlphaCore Capital LLC raised its stake in Norfolk Southern by 76.1% during the 3rd quarter. AlphaCore Capital LLC now owns 2,628 shares of the railroad operator’s stock valued at $812,000 after acquiring an additional 1,136 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Norfolk Southern by 26.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,563 shares of the railroad operator’s stock worth $4,208,000 after acquiring an additional 2,816 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on NSC shares. Weiss Ratings raised Norfolk Southern from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Susquehanna lowered their price target on Norfolk Southern from $386.00 to $350.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Barclays lifted their price objective on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. UBS Group reaffirmed a “neutral” rating on shares of Norfolk Southern in a report on Monday, October 26th. Finally, BMO Capital Markets increased their target price on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $348.81.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $330.32 on Thursday. Norfolk Southern Corporation has a 12 month low of $277.80 and a 12 month high of $358.60. The stock has a market cap of $74.20 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 4.88 and a beta of 1.20. The stock’s 50 day moving average price is $324.06 and its 200 day moving average price is $316.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.81.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.16. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.48 billion. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.30 earnings per share. Equities research analysts anticipate that Norfolk Southern Corporation will post 12.87 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be issued a $1.35 dividend. The ex-dividend date is Friday, November 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. Norfolk Southern’s dividend payout ratio is 45.26%.

About Norfolk Southern

Norfolk Southern Corporation is a freight transportation company that operates a major railroad network across the eastern United States. Its rail services connect businesses, ports and communities, and link with other railroads to move goods across North America. The company transports a broad range of products, including coal, chemicals, agricultural goods, automotive vehicles and parts, metals, construction materials and consumer products. Its services include intermodal transportation, which combines rail with truck or container shipping, as well as rail freight and logistics solutions.