Courier Capital LLC reduced its position in Norfolk Southern Co. (NYSE:NSC – Free Report) by 19.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,543 shares of the railroad operator’s stock after selling 600 shares during the period. Courier Capital LLC’s holdings in Norfolk Southern were worth $539,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Morton Brown Family Wealth LLC bought a new position in shares of Norfolk Southern in the 1st quarter worth $29,000. Worth Asset Management LLC bought a new position in shares of Norfolk Southern in the 1st quarter worth $30,000. OLD Mission Capital LLC purchased a new stake in Norfolk Southern in the 4th quarter valued at $36,000. Freedom Wealth Alliance LLC purchased a new stake in Norfolk Southern in the 4th quarter valued at $39,000. Finally, AXS Investments LLC purchased a new stake in Norfolk Southern in the 4th quarter valued at $40,000. 72.37% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
NSC has been the subject of a number of analyst reports. Citigroup raised Norfolk Southern from a “neutral” rating to a “buy” rating and increased their price target for the company from $226.00 to $257.00 in a research report on Monday, May 22nd. StockNews.com initiated coverage on Norfolk Southern in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Stifel Nicolaus increased their price target on Norfolk Southern from $242.00 to $262.00 in a research report on Monday, July 17th. Wells Fargo & Company increased their price target on Norfolk Southern from $250.00 to $260.00 in a research report on Tuesday, July 11th. Finally, BMO Capital Markets raised their target price on Norfolk Southern from $240.00 to $255.00 and gave the company a “market perform” rating in a research report on Friday, July 28th. Thirteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and an average price target of $245.40.
Norfolk Southern Stock Up 1.1 %
Shares of NYSE NSC opened at $200.73 on Thursday. Norfolk Southern Co. has a 52 week low of $194.05 and a 52 week high of $261.71. The business has a 50-day simple moving average of $219.55 and a two-hundred day simple moving average of $215.03. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.15. The company has a market cap of $45.57 billion, a P/E ratio of 18.05, a P/E/G ratio of 2.34 and a beta of 1.29.
Norfolk Southern (NYSE:NSC – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The railroad operator reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.20). The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 20.25% and a return on equity of 24.88%. The business’s revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.45 EPS. Research analysts anticipate that Norfolk Southern Co. will post 12.59 earnings per share for the current fiscal year.
Norfolk Southern Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Friday, August 4th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.69%. Norfolk Southern’s dividend payout ratio (DPR) is presently 48.56%.
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.
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