Norfolk Southern Corporation $NSC Position Lessened by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its stake in Norfolk Southern Corporation (NYSE:NSC) by 89.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,773 shares of the railroad operator’s stock after selling 243,592 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Norfolk Southern were worth $8,307,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. JPL Wealth Management LLC bought a new stake in shares of Norfolk Southern in the 3rd quarter worth approximately $25,000. GoalVest Advisory LLC increased its position in Norfolk Southern by 933.3% in the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after acquiring an additional 84 shares during the period. Meeder Asset Management Inc. increased its position in Norfolk Southern by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after acquiring an additional 67 shares during the period. FNY Investment Advisers LLC increased its position in Norfolk Southern by 669.2% in the 3rd quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock valued at $30,000 after acquiring an additional 87 shares during the period. Finally, BNP Paribas acquired a new stake in Norfolk Southern in the 2nd quarter valued at approximately $26,000. Institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

NSC has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Weiss Ratings cut Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 27th. Jefferies Financial Group lowered their target price on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Royal Bank Of Canada raised their target price on Norfolk Southern from $310.00 to $360.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Finally, Susquehanna raised their target price on Norfolk Southern from $330.00 to $337.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. Six investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $322.71.

Norfolk Southern Stock Performance

NSC opened at $310.15 on Tuesday. The firm has a market cap of $69.66 billion, a PE ratio of 26.13, a P/E/G ratio of 5.79 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $308.79 and a 200-day simple moving average of $300.35. Norfolk Southern Corporation has a fifty-two week low of $248.82 and a fifty-two week high of $326.00.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data 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. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $2.69 EPS. As a group, equities analysts predict that Norfolk Southern Corporation will post 12.12 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio (DPR) is 45.49%.

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.