Aventail Capital Group LP Sells 5,356 Shares of Norfolk Southern Corporation $NSC

Key Points

• Aventail Capital Group LP cut its Norfolk Southern stake by 15.0%, selling 5,356 shares and now holding 30,349 shares valued at about $9.12 million.
• Norfolk Southern beat quarterly EPS estimates with $3.22 vs. $2.76 expected while revenue dipped 1.7% year-over-year to $3.0 billion and net margin was 23.59%.
• The company pays a quarterly dividend of $1.35 ($5.40 annualized, ~1.9% yield) and carries a consensus Hold rating from analysts with an average target of $308.95.

Aventail Capital Group LP reduced its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 15.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,349 shares of the railroad operator's stock after selling 5,356 shares during the quarter. Aventail Capital Group LP's holdings in Norfolk Southern were worth $9,117,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. ORG Partners LLC raised its holdings in Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator's stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Norfolk Southern by 207.1% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator's stock valued at $26,000 after buying an additional 58 shares in the last quarter. BNP Paribas bought a new stake in shares of Norfolk Southern in the 2nd quarter valued at about $26,000. MMA Asset Management LLC purchased a new position in shares of Norfolk Southern in the 3rd quarter worth approximately $28,000. Finally, Highline Wealth Partners LLC raised its stake in shares of Norfolk Southern by 68.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator's stock worth $31,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Down 0.7%

NYSE:NSC opened at $289.25 on Friday. The company has a market cap of $64.96 billion, a PE ratio of 22.69, a P/E/G ratio of 5.22 and a beta of 1.31. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $319.94. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. The company's 50 day moving average is $300.74 and its two-hundred day moving average is $292.10.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.76 by $0.46. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. Norfolk Southern's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.04 EPS. Analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, February 6th. Norfolk Southern's dividend payout ratio is presently 42.35%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Robert W. Baird increased their target price on shares of Norfolk Southern from $288.00 to $315.00 and gave the company a "neutral" rating in a research report on Friday, March 6th. JPMorgan Chase & Co. reduced their price target on Norfolk Southern from $301.00 to $296.00 and set a "neutral" rating on the stock in a research report on Friday, January 30th. Jefferies Financial Group increased their price objective on Norfolk Southern from $300.00 to $350.00 and gave the company a "hold" rating in a report on Tuesday, March 3rd. Zacks Research raised Norfolk Southern from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. Finally, Argus upgraded Norfolk Southern to a "hold" rating in a research note on Wednesday, February 25th. Eight equities research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $308.95.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.

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