Norfolk Southern Co. (NYSE:NSC) Shares Sold by Comerica Bank

Comerica Bank trimmed its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,207 shares of the railroad operator's stock after selling 2,591 shares during the period. Comerica Bank's holdings in Norfolk Southern were worth $19,763,000 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. Morse Asset Management Inc acquired a new stake in Norfolk Southern during the 3rd quarter worth about $30,000. World Investment Advisors LLC grew its holdings in Norfolk Southern by 10.7% during the third quarter. World Investment Advisors LLC now owns 11,226 shares of the railroad operator's stock worth $2,790,000 after acquiring an additional 1,089 shares during the period. Tidal Investments LLC raised its position in Norfolk Southern by 10.7% during the third quarter. Tidal Investments LLC now owns 11,716 shares of the railroad operator's stock valued at $2,911,000 after acquiring an additional 1,131 shares in the last quarter. Synovus Financial Corp lifted its holdings in Norfolk Southern by 0.8% in the third quarter. Synovus Financial Corp now owns 28,715 shares of the railroad operator's stock valued at $7,135,000 after acquiring an additional 229 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Norfolk Southern by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator's stock valued at $63,417,000 after purchasing an additional 8,844 shares during the period. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Down 0.9 %

NYSE:NSC traded down $2.02 on Monday, hitting $222.34. The stock had a trading volume of 749,777 shares, compared to its average volume of 1,236,529. The company has a fifty day moving average price of $227.96 and a two-hundred day moving average price of $243.90. Norfolk Southern Co. has a 1-year low of $201.63 and a 1-year high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The stock has a market cap of $50.12 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the company posted $2.49 earnings per share. The company's revenue was down .4% on a year-over-year basis. Equities research analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.43%. Norfolk Southern's payout ratio is currently 36.89%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NSC shares. Loop Capital cut Norfolk Southern from a "buy" rating to a "hold" rating and dropped their target price for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. Royal Bank of Canada cut their price objective on Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Jefferies Financial Group decreased their target price on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. boosted their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Norfolk Southern in a report on Friday, March 7th. They set a "buy" rating and a $293.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $266.10.

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.