BKM Wealth Management LLC Lowers Position in Norfolk Southern Corporation (NYSE:NSC)

BKM Wealth Management LLC cut its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 81.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,243 shares of the railroad operator's stock after selling 5,593 shares during the period. BKM Wealth Management LLC's holdings in Norfolk Southern were worth $294,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Fourth Dimension Wealth LLC bought a new position in shares of Norfolk Southern in the fourth quarter worth $28,000. Putney Financial Group LLC purchased a new stake in Norfolk Southern during the fourth quarter valued at about $30,000. Greenline Partners LLC purchased a new stake in Norfolk Southern during the fourth quarter valued at about $31,000. HWG Holdings LP bought a new position in shares of Norfolk Southern during the first quarter valued at about $35,000. Finally, Physician Wealth Advisors Inc. grew its stake in shares of Norfolk Southern by 129.2% during the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after buying an additional 84 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Trading Up 2.7%

NYSE:NSC opened at $277.00 on Monday. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $281.35. The firm has a 50 day moving average of $252.39 and a 200 day moving average of $241.81. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $62.45 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 2.27 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $3.01 billion. Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. The company's quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $2.49 EPS. As a group, sell-side analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were issued a dividend of $1.35 per share. The ex-dividend date was Friday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 1.95%. Norfolk Southern's dividend payout ratio (DPR) is presently 36.89%.

Analysts Set New Price Targets

Several analysts recently issued reports on NSC shares. The Goldman Sachs Group reissued a "neutral" rating and issued a $278.00 target price on shares of Norfolk Southern in a research note on Monday, June 2nd. Susquehanna reiterated a "neutral" rating and set a $260.00 target price (up from $250.00) on shares of Norfolk Southern in a report on Tuesday, June 24th. Bank of America boosted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday. Jefferies Financial Group decreased their target price 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. Finally, Wells Fargo & Company cut their price objective on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $274.55.

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.

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