Reaves W H & Co. Inc. Lowers Position in Norfolk Southern Corporation $NSC

Reaves W H & Co. Inc. trimmed its stake in Norfolk Southern Corporation (NYSE:NSC) by 20.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 131,000 shares of the railroad operator’s stock after selling 32,700 shares during the quarter. Reaves W H & Co. Inc.’s holdings in Norfolk Southern were worth $37,822,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after buying an additional 79 shares during the period. Intech Investment Management LLC raised its holdings in Norfolk Southern by 40.4% in the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after acquiring an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Norfolk Southern during the second quarter worth $327,000. Schnieders Capital Management LLC. raised its holdings in shares of Norfolk Southern by 64.1% during the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after purchasing an additional 1,670 shares during the period. Finally, Jump Financial LLC raised its holdings in shares of Norfolk Southern by 185.1% during the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after purchasing an additional 2,979 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

NYSE NSC opened at $304.99 on Monday. The company has a 50 day simple moving average of $303.14 and a 200-day simple moving average of $298.38. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The firm has a market capitalization of $68.50 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 5.63 and a beta of 1.27. Norfolk Southern Corporation has a 52-week low of $241.82 and a 52-week high of $326.00.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.69 earnings per share. Equities research analysts predict that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio is 45.49%.

Analyst Ratings Changes

NSC has been the subject of several recent research reports. Royal Bank Of Canada upped their price target on shares of Norfolk Southern from $310.00 to $360.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Zacks Research raised shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. BMO Capital Markets raised their price objective on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a research report on Monday, April 27th. Citigroup restated a “neutral” rating on shares of Norfolk Southern in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Six analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $319.83.

Norfolk Southern Company 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.