Earnest Partners LLC Cuts Stake in Norfolk Southern Co. (NYSE:NSC)

Earnest Partners LLC trimmed its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,142 shares of the railroad operator's stock after selling 6,558 shares during the quarter. Earnest Partners LLC's holdings in Norfolk Southern were worth $8,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of NSC. Financial Life Planners purchased a new position in shares of Norfolk Southern during the fourth quarter valued at about $27,000. Keystone Financial Group Inc. bought a new position in shares of Norfolk Southern in the 4th quarter worth approximately $27,000. Bank of Jackson Hole Trust purchased a new position in shares of Norfolk Southern in the 4th quarter valued at approximately $27,000. Vision Financial Markets LLC purchased a new stake in Norfolk Southern in the fourth quarter worth $28,000. Finally, Atlantic Private Wealth LLC bought a new position in Norfolk Southern in the fourth quarter worth $29,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 1.0 %

Shares of NYSE NSC traded down $2.18 during midday trading on Thursday, hitting $221.87. The company's stock had a trading volume of 1,088,551 shares, compared to its average volume of 1,240,189. The business's 50 day moving average is $228.81 and its two-hundred day moving average is $244.44. Norfolk Southern Co. has a 12-month low of $201.63 and a 12-month high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The firm has a market cap of $50.02 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The company's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.49 earnings per share. As a group, equities research analysts expect that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, May 2nd. Norfolk Southern's dividend payout ratio (DPR) is presently 36.89%.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of analyst reports. Susquehanna decreased their target price on shares of Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Citigroup lowered their price objective 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. JPMorgan Chase & Co. increased their target price on Norfolk Southern from $284.00 to $286.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Evercore ISI dropped their price target on shares of Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Jefferies Financial Group reduced their price objective on shares of Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $266.10.

Insider Activity

In other Norfolk Southern news, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now directly owns 2,487 shares of the company's stock, valued at approximately $646,271.82. This represents a 32.29 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.06% of the company's stock.

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.