Fiduciary Trust Co. cut its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,172 shares of the railroad operator’s stock after selling 108 shares during the quarter. Fiduciary Trust Co.’s holdings in Norfolk Southern were worth $3,023,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of NSC. Oregon Public Employees Retirement Fund raised its position in Norfolk Southern by 14,153.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,774,792 shares of the railroad operator’s stock worth $152,000 after acquiring an additional 22,615,008 shares in the last quarter. Vanguard Group Inc raised its position in Norfolk Southern by 1.6% in the third quarter. Vanguard Group Inc now owns 21,159,132 shares of the railroad operator’s stock worth $3,819,223,000 after acquiring an additional 336,725 shares in the last quarter. BlackRock Inc. raised its position in Norfolk Southern by 0.9% in the fourth quarter. BlackRock Inc. now owns 20,052,895 shares of the railroad operator’s stock worth $2,998,712,000 after acquiring an additional 169,821 shares in the last quarter. JPMorgan Chase & Co. raised its position in Norfolk Southern by 3.5% in the first quarter. JPMorgan Chase & Co. now owns 12,864,410 shares of the railroad operator’s stock worth $2,404,230,000 after acquiring an additional 430,110 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Norfolk Southern by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 3,364,851 shares of the railroad operator’s stock worth $502,245,000 after acquiring an additional 221,780 shares in the last quarter. 74.96% of the stock is owned by hedge funds and other institutional investors.

Shares of NSC stock opened at $203.52 on Monday. Norfolk Southern Corp. has a fifty-two week low of $138.65 and a fifty-two week high of $211.46. The firm has a market capitalization of $54.13 billion, a PE ratio of 21.40, a PEG ratio of 1.57 and a beta of 1.44. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.67 and a quick ratio of 0.59.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.34. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the business posted $1.93 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Norfolk Southern Corp. will post 10.8 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 3rd will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio is currently 36.17%.

NSC has been the subject of several research analyst reports. Deutsche Bank cut Norfolk Southern from a “buy” rating to a “hold” rating and set a $177.00 price objective for the company. in a research report on Friday, January 25th. Loop Capital increased their price objective on Norfolk Southern to $197.00 and gave the stock a “buy” rating in a research report on Friday, January 25th. TD Securities increased their price objective on Norfolk Southern from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, January 25th. ValuEngine upgraded Norfolk Southern from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Finally, Cowen reiterated an “outperform” rating and issued a $200.00 price objective (up previously from $194.00) on shares of Norfolk Southern in a research report on Tuesday, February 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $202.06.

In other news, COO Michael Joseph Wheeler sold 2,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $204.57, for a total value of $511,425.00. Following the completion of the transaction, the chief operating officer now owns 12,919 shares in the company, valued at $2,642,839.83. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.

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Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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

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