Cresset Asset Management LLC Has $8.55 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Cresset Asset Management LLC decreased its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 22.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,413 shares of the railroad operator's stock after selling 10,472 shares during the quarter. Cresset Asset Management LLC's holdings in Norfolk Southern were worth $8,546,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in shares of Norfolk Southern during the fourth quarter valued at $547,575,000. Price T Rowe Associates Inc. MD raised its position in shares of Norfolk Southern by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator's stock worth $2,020,318,000 after purchasing an additional 918,559 shares during the period. Boston Partners raised its stake in shares of Norfolk Southern by 16.9% in the 4th quarter. Boston Partners now owns 4,020,392 shares of the railroad operator's stock valued at $945,385,000 after purchasing an additional 580,293 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Norfolk Southern by 293.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator's stock worth $157,643,000 after acquiring an additional 501,053 shares in the last quarter. Finally, Amundi increased its position in Norfolk Southern by 56.4% during the fourth quarter. Amundi now owns 1,302,635 shares of the railroad operator's stock worth $308,607,000 after buying an additional 469,558 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wells Fargo & Company dropped their price target on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Evercore ISI lowered their price objective on Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Loop Capital cut Norfolk Southern from a "buy" rating to a "hold" rating and decreased their target price for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. Citigroup reduced their target price on Norfolk Southern from $298.00 to $259.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Norfolk Southern in a research note on Friday, March 7th. They issued a "buy" rating and a $293.00 price objective for the company. 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, Norfolk Southern has an average rating of "Moderate Buy" and a consensus target price of $266.10.

Norfolk Southern Trading Up 7.0%

NYSE:NSC traded up $15.66 during trading hours on Monday, reaching $239.16. 1,490,385 shares of the stock were exchanged, compared to its average volume of 1,213,667. The business has a 50-day moving average of $225.86 and a two-hundred day moving average of $242.76. The company has a market capitalization of $53.92 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 2.31 and a beta of 1.30. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a twelve month low of $201.63 and a twelve month high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced 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). The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.01 billion. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Norfolk Southern's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.49 EPS. On average, equities analysts predict that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, May 2nd. Norfolk Southern's dividend payout ratio (DPR) is 36.89%.

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.