AEGON ASSET MANAGEMENT UK Plc Sells 13,755 Shares of Norfolk Southern Co. (NYSE:NSC)

AEGON ASSET MANAGEMENT UK Plc decreased its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 20.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,782 shares of the railroad operator's stock after selling 13,755 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc's holdings in Norfolk Southern were worth $12,501,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after purchasing an additional 79 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Norfolk Southern by 4.2% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,529 shares of the railroad operator's stock valued at $1,532,000 after buying an additional 261 shares during the last quarter. Spire Wealth Management increased its position in shares of Norfolk Southern by 19.0% during the fourth quarter. Spire Wealth Management now owns 6,641 shares of the railroad operator's stock valued at $1,559,000 after acquiring an additional 1,062 shares in the last quarter. Jennison Associates LLC boosted its stake in Norfolk Southern by 109.8% during the 4th quarter. Jennison Associates LLC now owns 12,766 shares of the railroad operator's stock valued at $2,996,000 after purchasing an additional 6,680 shares during the last quarter. Finally, Financial Life Planners purchased a new stake in shares of Norfolk Southern during the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Up 1.3%

NSC traded up $3.30 on Friday, hitting $250.22. The company had a trading volume of 587,740 shares, compared to its average volume of 1,222,638. Norfolk Southern Co. has a 12-month low of $201.63 and a 12-month 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 business's fifty day simple moving average is $229.14 and its 200 day simple moving average is $240.80. The company has a market cap of $56.41 billion, a PE ratio of 21.67, a PEG ratio of 2.31 and a beta of 1.32.

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

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were paid a $1.35 dividend. The ex-dividend date was Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.16%. Norfolk Southern's payout ratio is 36.89%.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of research reports. UBS Group boosted their target price on shares of Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Jefferies Financial Group dropped their price objective on shares of Norfolk Southern from $285.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Citigroup reduced their target price on shares of Norfolk Southern from $298.00 to $259.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, Evercore ISI cut their price objective on shares of Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Norfolk Southern has an average rating of "Moderate Buy" and an average target price of $267.24.

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.