Ascent Group LLC Has $927,000 Stock Position in Norfolk Southern Co. (NYSE:NSC)

Ascent Group LLC lowered its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 42.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,950 shares of the railroad operator's stock after selling 2,960 shares during the quarter. Ascent Group LLC's holdings in Norfolk Southern were worth $927,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Norfolk Southern by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock valued at $1,098,472,000 after acquiring an additional 113,648 shares during the period. Caprock Group LLC acquired a new stake in Norfolk Southern during the 4th quarter worth approximately $1,796,000. Dorsey & Whitney Trust CO LLC boosted its stake in Norfolk Southern by 2.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock valued at $1,333,000 after purchasing an additional 128 shares during the period. Ausbil Investment Management Ltd acquired a new position in Norfolk Southern in the 4th quarter valued at $4,703,000. Finally, Hoge Financial Services LLC bought a new position in Norfolk Southern during the 4th quarter worth $238,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NSC shares. Evercore ISI reduced their target price 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. Stephens boosted their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Bank of America raised their target price on shares of Norfolk Southern from $267.00 to $280.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Benchmark reissued a "buy" rating and set a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $284.00 to $286.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $266.50.

Norfolk Southern Trading Up 1.5%

Norfolk Southern stock traded up $3.61 during trading hours on Thursday, hitting $246.15. The stock had a trading volume of 2,178,830 shares, compared to its average volume of 1,215,923. The stock has a market cap of $55.49 billion, a price-to-earnings ratio of 21.29, a P/E/G 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. The business's 50 day simple moving average is $227.69 and its 200-day simple moving average is $241.59. Norfolk Southern Co. has a one year low of $201.63 and a one year high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (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 the consensus estimate of $3.01 billion. During the same quarter last year, the business earned $2.49 EPS. The firm's quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts predict that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were issued 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 2.19%. Norfolk Southern's payout ratio is 36.89%.

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.