Norfolk Southern Co. (NYSE:NSC) Shares Sold by Bfsg LLC

Bfsg LLC decreased its stake in Norfolk Southern Co. (NYSE:NSC) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,222 shares of the railroad operator’s stock after selling 850 shares during the period. Norfolk Southern accounts for 1.1% of Bfsg LLC’s investment portfolio, making the stock its 20th largest holding. Bfsg LLC’s holdings in Norfolk Southern were worth $7,617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Schnieders Capital Management LLC boosted its position in shares of Norfolk Southern by 2.5% in the 4th quarter. Schnieders Capital Management LLC now owns 2,458 shares of the railroad operator’s stock valued at $581,000 after purchasing an additional 60 shares during the period. Cutter & CO Brokerage Inc. grew its position in shares of Norfolk Southern by 6.7% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 3,586 shares of the railroad operator’s stock worth $848,000 after acquiring an additional 226 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $314,000. Community Bank & Trust Waco Texas raised its position in Norfolk Southern by 15.9% in the 4th quarter. Community Bank & Trust Waco Texas now owns 11,081 shares of the railroad operator’s stock valued at $2,619,000 after purchasing an additional 1,523 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Norfolk Southern by 17.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,984 shares of the railroad operator’s stock worth $705,000 after purchasing an additional 434 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Shares of NSC stock traded down $2.33 during midday trading on Thursday, reaching $233.89. 266,048 shares of the company traded hands, compared to its average volume of 1,269,182. The firm has a market cap of $57.59 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 3.34 and a beta of 1.30. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.14. The firm’s 50 day simple moving average is $252.34 and its two-hundred day simple moving average is $232.12. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.32 EPS. On average, equities research analysts expect that Norfolk Southern Co. will post 11.93 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio is currently 67.33%.

Analysts Set New Price Targets

NSC has been the topic of a number of recent research reports. Susquehanna dropped their price objective on shares of Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $270.00 price objective on shares of Norfolk Southern in a research report on Wednesday, April 10th. Loop Capital boosted their target price on Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Morgan Stanley downgraded Norfolk Southern from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $185.00 to $175.00 in a report on Monday, January 29th. Finally, Sanford C. Bernstein raised shares of Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price objective on the stock in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.74.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.