Norfolk Southern Corporation $NSC Shares Sold by BTC Capital Management Inc.

BTC Capital Management Inc. lessened its stake in Norfolk Southern Corporation (NYSE:NSC) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,343 shares of the railroad operator’s stock after selling 4,832 shares during the period. BTC Capital Management Inc.’s holdings in Norfolk Southern were worth $9,853,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. JPL Wealth Management LLC acquired a new position in Norfolk Southern during the 3rd quarter worth $25,000. BNP Paribas acquired a new stake in shares of Norfolk Southern during the 2nd quarter valued at approximately $26,000. GoalVest Advisory LLC lifted its position in shares of Norfolk Southern by 933.3% in the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after buying an additional 84 shares during the last quarter. Meeder Asset Management Inc. raised its stake in Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 67 shares during the period. Finally, FNY Investment Advisers LLC raised its stake in Norfolk Southern by 669.2% during the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock worth $30,000 after acquiring an additional 87 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

NYSE NSC opened at $303.94 on Thursday. Norfolk Southern Corporation has a 52 week low of $252.54 and a 52 week high of $326.00. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a market cap of $68.26 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 5.60 and a beta of 1.27. The company has a 50-day moving average price of $310.25 and a two-hundred day moving average price of $300.89.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.69 earnings per share. Analysts forecast that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio (DPR) is currently 45.49%.

Wall Street Analyst Weigh In

NSC has been the subject of a number of research reports. Wolfe Research lifted their target price on Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. Rothschild & Co Redburn increased their price target on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Weiss Ratings downgraded Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. BMO Capital Markets upped their price objective on Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. Finally, Susquehanna upped their price objective on Norfolk Southern from $330.00 to $337.00 and gave the stock a “neutral” rating in a research note on Friday, June 5th. 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 currently has a consensus rating of “Hold” and an average target price of $320.35.

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.