Colonial Trust Advisors Lowers Holdings in Norfolk Southern Corporation $NSC

Key Points

• Colonial Trust Advisors has reduced its holdings in Norfolk Southern Corporation by 8.3%, selling 908 shares to hold a total of 10,031 shares valued at approximately $2.38 million.
• Norfolk Southern reported earnings of $3.29 per share, surpassing expectations and contributing to a revenue of $3.11 billion for the quarter.
• The company declared a quarterly dividend of $1.35 per share, set to be paid on August 20th, with a current dividend yield of 1.9%.

Colonial Trust Advisors cut its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 8.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,031 shares of the railroad operator's stock after selling 908 shares during the quarter. Colonial Trust Advisors' holdings in Norfolk Southern were worth $2,376,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its holdings in shares of Norfolk Southern by 883.3% during the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock valued at $42,000 after purchasing an additional 159 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in Norfolk Southern by 1.9% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator's stock worth $846,000 after buying an additional 65 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Norfolk Southern by 4.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator's stock valued at $16,925,000 after acquiring an additional 2,782 shares in the last quarter. GAMMA Investing LLC grew its holdings in Norfolk Southern by 8.3% in the 1st quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator's stock valued at $990,000 after buying an additional 321 shares in the last quarter. Finally, Brevan Howard Capital Management LP grew its stake in shares of Norfolk Southern by 472.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 43,054 shares of the railroad operator's stock valued at $10,105,000 after buying an additional 35,531 shares during the period. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $279.80 on Tuesday. The stock has a 50 day simple moving average of $267.43 and a 200-day simple moving average of $246.77. The company has a market cap of $62.85 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 2.49 and a beta of 1.31. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $288.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.05. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. On average, equities analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 1st. Norfolk Southern's dividend payout ratio (DPR) is 36.49%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NSC. Evercore ISI reaffirmed an "in-line" rating and set a $289.00 target price (up previously from $279.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Citigroup lifted their price target on shares of Norfolk Southern from $288.00 to $305.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Bank of America lifted their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Royal Bank Of Canada downgraded shares of Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Finally, Barclays boosted their target price on Norfolk Southern from $290.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $285.15.

About Norfolk Southern

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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