Norfolk Southern Co. (NYSE:NSC) Shares Sold by SouthState Corp

SouthState Corp trimmed its holdings in Norfolk Southern Co. (NYSE:NSC) by 12.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,374 shares of the railroad operator’s stock after selling 346 shares during the quarter. SouthState Corp’s holdings in Norfolk Southern were worth $561,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Provence Wealth Management Group acquired a new stake in Norfolk Southern in the third quarter worth about $28,000. Exchange Traded Concepts LLC raised its position in shares of Norfolk Southern by 662.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after buying an additional 106 shares in the last quarter. Operose Advisors LLC bought a new stake in shares of Norfolk Southern during the 3rd quarter worth about $32,000. Orion Capital Management LLC bought a new position in shares of Norfolk Southern in the third quarter valued at approximately $32,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $32,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Up 0.7 %

NSC traded up $1.75 on Friday, reaching $235.55. 1,072,653 shares of the company traded hands, compared to its average volume of 1,324,604. The company has a market cap of $53.21 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 3.23 and a beta of 1.30. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61. The stock’s 50 day moving average price is $250.16 and its 200-day moving average price is $233.40. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the previous year, the business posted $3.32 EPS. Norfolk Southern’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, sell-side analysts expect that Norfolk Southern Co. will post 11.62 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.29%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NSC shares. Susquehanna lowered their price target on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th. Citigroup lifted their target price on Norfolk Southern from $253.00 to $286.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. The Goldman Sachs Group upped their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a report on Thursday, March 21st. BMO Capital Markets lowered their price objective on shares of Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating on the stock in a research note on Monday, January 29th. Finally, UBS Group cut their target price on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $262.32.

Norfolk Southern 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.