Forum Financial Management LP Has $870,000 Stock Position in Norfolk Southern Corporation $NSC

Forum Financial Management LP reduced its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 48.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,031 shares of the railroad operator’s stock after selling 2,869 shares during the quarter. Forum Financial Management LP’s holdings in Norfolk Southern were worth $870,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPL Wealth Management LLC acquired a new position in Norfolk Southern during the third quarter worth $25,000. BNP Paribas bought a new position in Norfolk Southern in the second quarter valued at $26,000. GoalVest Advisory LLC increased its stake in Norfolk Southern by 933.3% in the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after buying an additional 84 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Norfolk Southern by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after buying an additional 67 shares during the last quarter. Finally, FNY Investment Advisers LLC lifted its position in Norfolk Southern by 669.2% during the 3rd quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock worth $30,000 after buying an additional 87 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $316.18 on Tuesday. The company has a fifty day moving average price of $311.07 and a two-hundred day moving average price of $301.35. Norfolk Southern Corporation has a one year low of $255.03 and a one year high of $326.00. The stock has a market cap of $71.01 billion, a P/E ratio of 26.64, a P/E/G ratio of 5.77 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. Norfolk Southern’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.69 EPS. As a group, equities analysts predict that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s payout ratio is 45.49%.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of recent research reports. Citigroup restated a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Evercore set a $325.00 target price on Norfolk Southern in a research report on Friday, April 24th. Wolfe Research increased their price target on Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. decreased their price target on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Finally, TD Cowen boosted their price target on Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to data from MarketBeat, Norfolk Southern presently has an average rating of “Hold” and an average price target of $320.35.

Norfolk Southern Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.