American Century Companies Inc. Cuts Holdings in Norfolk Southern Corporation $NSC

American Century Companies Inc. decreased its position in Norfolk Southern Corporation (NYSE:NSC) by 28.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,154,815 shares of the railroad operator’s stock after selling 850,971 shares during the period. Norfolk Southern accounts for 0.3% of American Century Companies Inc.’s holdings, making the stock its 25th biggest position. American Century Companies Inc.’s holdings in Norfolk Southern were worth $647,329,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after acquiring an additional 79 shares during the period. Intech Investment Management LLC lifted its stake 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 purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Norfolk Southern during the second quarter valued at $327,000. Schnieders Capital Management LLC. grew its holdings in Norfolk Southern by 64.1% during the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock valued at $1,094,000 after purchasing an additional 1,670 shares during the period. Finally, World Investment Advisors increased its position in Norfolk Southern by 1.1% in the second quarter. World Investment Advisors now owns 11,763 shares of the railroad operator’s stock worth $3,011,000 after buying an additional 132 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

In other news, Director William Jr. Clyburn acquired 204 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were purchased at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the transaction, the director owned 405 shares of the company’s stock, valued at $119,389.95. The trade was a 101.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by insiders.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $314.01 on Friday. The stock has a market cap of $70.52 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 5.64 and a beta of 1.34. The stock’s 50-day moving average is $297.95 and its 200 day moving average is $290.42. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $319.94.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the business posted $3.04 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, February 6th. Norfolk Southern’s dividend payout ratio is currently 42.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Citigroup cut their target price on shares of Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a report on Friday, January 30th. Barclays dropped their target price on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Susquehanna lifted their price target on Norfolk Southern from $304.00 to $305.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Finally, JPMorgan Chase & Co. decreased their price objective on Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Seven equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $304.47.

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.