State of Alaska Department of Revenue Sells 2,200 Shares of Norfolk Southern Co. (NYSE:NSC)

State of Alaska Department of Revenue cut its holdings in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,893 shares of the railroad operator’s stock after selling 2,200 shares during the period. State of Alaska Department of Revenue’s holdings in Norfolk Southern were worth $9,429,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Norfolk Southern during the 4th quarter worth $2,933,000. BKM Wealth Management LLC bought a new position in Norfolk Southern during the 4th quarter worth about $1,444,000. Comerica Bank bought a new position in Norfolk Southern during the 2nd quarter worth about $48,259,000. Pathstone Family Office LLC grew its holdings in shares of Norfolk Southern by 200.1% in the 3rd quarter. Pathstone Family Office LLC now owns 16,077 shares of the railroad operator’s stock valued at $3,198,000 after acquiring an additional 10,719 shares in the last quarter. Finally, ClearBridge Investments Ltd bought a new position in shares of Norfolk Southern in the 3rd quarter valued at about $34,973,000. 75.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Cowen raised their price objective on Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. The Goldman Sachs Group raised their target price on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Stifel Nicolaus downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating and cut their price objective for the stock from $250.00 to $233.00 in a research report on Monday, January 29th. UBS Group upgraded shares of Norfolk Southern from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $238.00 to $302.00 in a research report on Monday, March 4th. Finally, Sanford C. Bernstein upgraded shares of Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price objective for the company in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $252.38.

View Our Latest Research Report on NSC

Norfolk Southern Stock Up 1.3 %

NYSE NSC opened at $254.87 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The company has a 50 day moving average of $252.09 and a 200-day moving average of $225.92. The company has a market cap of $62.75 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 3.42 and a beta of 1.30.

Norfolk Southern (NYSE:NSCGet Free Report) last announced its quarterly earnings data on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.04). The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.09 billion. Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $3.42 earnings per share. On average, equities research analysts expect that Norfolk Southern Co. will post 12.14 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 2nd were paid a $1.35 dividend. The ex-dividend date was Thursday, February 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.12%. Norfolk Southern’s dividend payout ratio (DPR) is 67.33%.

Norfolk Southern Profile

(Free Report)

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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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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