Norfolk Southern Corporation $NSC Shares Sold by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd trimmed its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 22.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,329 shares of the railroad operator’s stock after selling 7,435 shares during the period. Norfolk Southern accounts for 4.3% of Ausbil Investment Management Ltd’s investment portfolio, making the stock its 3rd biggest holding. Ausbil Investment Management Ltd’s holdings in Norfolk Southern were worth $7,602,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Parsons Capital Management Inc. RI grew its stake in Norfolk Southern by 5.6% during the 4th quarter. Parsons Capital Management Inc. RI now owns 1,700 shares of the railroad operator’s stock valued at $491,000 after acquiring an additional 90 shares in the last quarter. Bank & Trust Co increased its holdings in shares of Norfolk Southern by 32.7% in the 4th quarter. Bank & Trust Co now owns 454 shares of the railroad operator’s stock valued at $131,000 after purchasing an additional 112 shares during the period. Norden Group LLC lifted its position in shares of Norfolk Southern by 84.1% in the fourth quarter. Norden Group LLC now owns 1,734 shares of the railroad operator’s stock worth $501,000 after purchasing an additional 792 shares in the last quarter. Burns J W & Co. Inc. NY boosted its holdings in shares of Norfolk Southern by 0.5% during the fourth quarter. Burns J W & Co. Inc. NY now owns 19,902 shares of the railroad operator’s stock worth $5,746,000 after purchasing an additional 95 shares during the period. Finally, Sax Wealth Advisors LLC boosted its holdings in shares of Norfolk Southern by 40.5% during the fourth quarter. Sax Wealth Advisors LLC now owns 1,196 shares of the railroad operator’s stock worth $345,000 after purchasing an additional 345 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.0%

Norfolk Southern stock opened at $282.69 on Friday. 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. The firm’s fifty day simple moving average is $300.07 and its 200-day simple moving average is $292.41. The company has a market capitalization of $63.48 billion, a P/E ratio of 22.17, a P/E/G ratio of 5.10 and a beta of 1.31.

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

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, February 6th. Norfolk Southern’s dividend payout ratio is 42.35%.

Analyst Ratings Changes

Several research analysts have weighed in on NSC shares. Wolfe Research upped their price objective on shares of Norfolk Southern from $361.00 to $368.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Robert W. Baird lifted their target price on shares of Norfolk Southern from $288.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, March 6th. Argus upgraded shares of Norfolk Southern to a “hold” rating in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price target for the stock from $354.00 to $297.00 in a research note on Thursday, December 11th. Finally, Barclays reduced their price objective on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $309.95.

About Norfolk Southern

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.