Strs Ohio Decreases Position in Norfolk Southern Corporation $NSC

Strs Ohio decreased its holdings in Norfolk Southern Corporation (NYSE:NSC) by 4.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,693 shares of the railroad operator’s stock after selling 2,983 shares during the quarter. Strs Ohio’s holdings in Norfolk Southern were worth $17,706,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JPL Wealth Management LLC acquired a new stake in Norfolk Southern in the third quarter worth about $25,000. GoalVest Advisory LLC increased its holdings in shares of Norfolk Southern by 933.3% during the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after acquiring an additional 84 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of 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 purchasing an additional 67 shares during the last quarter. FNY Investment Advisers LLC raised its position in shares of 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 purchasing an additional 87 shares during the last quarter. Finally, BNP Paribas acquired a new stake in Norfolk Southern in the 2nd quarter worth approximately $26,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NSC has been the topic of a number of recent analyst reports. Rothschild & Co Redburn upped their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. TD Cowen boosted their price objective on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a report on Monday, April 27th. BMO Capital Markets upped their target price on Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a research report on Monday, April 27th. Barclays raised their target price on Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. lowered their price target on 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 research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Norfolk Southern presently has an average rating of “Hold” and an average price target of $320.35.

Norfolk Southern Stock Up 0.0%

Shares of NSC stock opened at $322.85 on Friday. Norfolk Southern Corporation has a twelve month low of $257.49 and a twelve month high of $326.00. The stock has a market cap of $72.51 billion, a P/E ratio of 27.20, a P/E/G ratio of 5.96 and a beta of 1.27. The stock has a 50 day moving average of $312.52 and a 200 day moving average of $302.00. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. The business had revenue of $3 billion for 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 business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.69 EPS. As a group, sell-side analysts expect that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio (DPR) is currently 45.49%.

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.