Norfolk Southern Co. (NYSE:NSC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in Norfolk Southern Co. (NYSE:NSC) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,951 shares of the railroad operator’s stock after selling 1,430 shares during the period. Victory Capital Management Inc.’s holdings in Norfolk Southern were worth $24,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Norfolk Southern in the fourth quarter worth about $2,933,000. BKM Wealth Management LLC purchased a new position in Norfolk Southern during the 4th quarter worth approximately $1,444,000. Pathstone Family Office LLC lifted its stake in Norfolk Southern by 200.1% during 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 during the period. ClearBridge Investments Ltd purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at $34,973,000. Finally, LPL Financial LLC increased its stake in shares of Norfolk Southern by 9.8% in the third quarter. LPL Financial LLC now owns 187,259 shares of the railroad operator’s stock worth $36,877,000 after acquiring an additional 16,727 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

NSC has been the topic of several recent research reports. Loop Capital upped their price target on shares of Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, April 18th. JPMorgan Chase & Co. lifted their price target on Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Morgan Stanley downgraded shares of Norfolk Southern from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $185.00 to $175.00 in a report on Monday, January 29th. Stifel Nicolaus lifted their price objective on shares of Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a report on Friday, April 12th. 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.32.

Norfolk Southern Stock Down 0.1 %

NYSE NSC opened at $232.07 on Thursday. The business has a fifty day moving average price of $248.82 and a 200 day moving average price of $234.41. 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 company has a market cap of $52.43 billion, a P/E ratio of 37.37, a P/E/G ratio of 3.30 and a beta of 1.30. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66.

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

Norfolk Southern Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.33%. Norfolk Southern’s dividend payout ratio is presently 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.