Stonegate Investment Group LLC Lowers Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Stonegate Investment Group LLC lowered its position in shares of Norfolk Southern Co. (NYSE:NSC) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,864 shares of the railroad operator’s stock after selling 746 shares during the period. Stonegate Investment Group LLC’s holdings in Norfolk Southern were worth $4,553,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Norfolk Southern during the fourth quarter worth about $2,933,000. BKM Wealth Management LLC bought a new stake in shares of Norfolk Southern during the 4th quarter valued at about $1,444,000. Pathstone Family Office LLC grew its holdings in shares of Norfolk Southern by 200.1% during the third quarter. Pathstone Family Office LLC now owns 16,077 shares of the railroad operator’s stock worth $3,198,000 after purchasing an additional 10,719 shares in the last quarter. ClearBridge Investments Ltd bought a new position in shares of Norfolk Southern in the third quarter worth approximately $34,973,000. Finally, LPL Financial LLC raised its position in shares of Norfolk Southern by 9.8% during the 3rd quarter. LPL Financial LLC now owns 187,259 shares of the railroad operator’s stock valued at $36,877,000 after buying an additional 16,727 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 4.6 %

Shares of NSC stock traded down $11.12 during midday trading on Tuesday, reaching $230.32. 3,569,162 shares of the stock were exchanged, compared to its average volume of 1,320,261. The firm has a market cap of $52.03 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 3.31 and a beta of 1.30. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. The company’s 50 day moving average is $251.14 and its two-hundred day moving average is $233.41. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66.

Norfolk Southern (NYSE:NSC) last announced 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 for the quarter, compared to the consensus estimate of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.32 EPS. On average, equities research analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 3rd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NSC. Stifel Nicolaus increased their target price on Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a research note on Friday, April 12th. BMO Capital Markets cut their price target on shares of Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating for the company in a research report on Monday, January 29th. Sanford C. Bernstein upgraded Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price objective on the stock in a report on Monday, January 22nd. Morgan Stanley lowered Norfolk Southern from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $185.00 to $175.00 in a research note on Monday, January 29th. Finally, TD Cowen upped their price target on shares of Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.