Federated Hermes Inc. Sells 499 Shares of Norfolk Southern Co. (NYSE:NSC)

Federated Hermes Inc. decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 39.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 761 shares of the railroad operator’s stock after selling 499 shares during the period. Federated Hermes Inc.’s holdings in Norfolk Southern were worth $180,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Provence Wealth Management Group purchased a new position in Norfolk Southern during the 3rd quarter worth $28,000. Exchange Traded Concepts LLC raised its holdings in shares of Norfolk Southern by 662.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after purchasing an additional 106 shares during the last quarter. Operose Advisors LLC bought a new position in shares of Norfolk Southern during the third quarter valued at about $32,000. Orion Capital Management LLC purchased a new position in Norfolk Southern during the third quarter worth about $32,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Norfolk Southern in the 4th quarter worth about $32,000. Institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $270.00 target price on shares of Norfolk Southern in a report on Wednesday, April 10th. Barclays upgraded Norfolk Southern from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $255.00 to $305.00 in a research note on Wednesday, February 21st. The Goldman Sachs Group lifted their target price on Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Finally, BMO Capital Markets decreased their price objective on shares of Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating for the company in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Norfolk Southern currently has a consensus rating of “Moderate Buy” and an average price target of $262.32.

Norfolk Southern Stock Performance

NYSE:NSC opened at $235.55 on Monday. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66. The business’s fifty day moving average is $249.71 and its 200 day moving average is $233.98. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. The firm has a market cap of $53.21 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 3.30 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the company earned $3.32 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. Research analysts predict that Norfolk Southern Co. will post 11.62 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, May 2nd. Norfolk Southern’s payout ratio is 86.96%.

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.