Commonwealth Equity Services LLC Has $28.74 Million Stock Holdings in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Commonwealth Equity Services LLC reduced its holdings in Norfolk Southern Corporation by 3.8%, now owning approximately $28.74 million worth of shares.
• Norfolk Southern reported an earnings per share (EPS) of $3.29 for the last quarter, exceeding the consensus estimate of $3.24.
• The company announced a quarterly dividend of $1.35, which translates to an annualized dividend yield of 1.9%.

Commonwealth Equity Services LLC reduced its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 121,337 shares of the railroad operator's stock after selling 4,743 shares during the period. Commonwealth Equity Services LLC owned about 0.05% of Norfolk Southern worth $28,739,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of NSC. Strategic Investment Solutions Inc. IL grew its position in shares of Norfolk Southern by 16.9% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator's stock valued at $71,000 after purchasing an additional 44 shares during the last quarter. CoreCap Advisors LLC boosted its stake in Norfolk Southern by 1.5% in the 4th quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock valued at $727,000 after purchasing an additional 45 shares during the period. Canandaigua National Trust Co of Florida grew its holdings in Norfolk Southern by 4.9% in the 1st quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock valued at $226,000 after buying an additional 45 shares in the last quarter. Capital Investment Advisory Services LLC increased its position in Norfolk Southern by 1.8% during the 1st quarter. Capital Investment Advisory Services LLC now owns 2,556 shares of the railroad operator's stock worth $605,000 after buying an additional 45 shares during the period. Finally, Certified Advisory Corp lifted its holdings in shares of Norfolk Southern by 1.0% during the first quarter. Certified Advisory Corp now owns 4,644 shares of the railroad operator's stock worth $1,100,000 after buying an additional 47 shares in the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Down 1.1%

NYSE NSC traded down $3.01 on Thursday, hitting $279.94. 2,187,523 shares of the company were exchanged, compared to its average volume of 3,196,134. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. The company has a market cap of $62.88 billion, a PE ratio of 18.91, a PEG ratio of 2.51 and a beta of 1.31. The stock has a fifty day moving average of $262.93 and a 200-day moving average of $245.68. 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 released its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.24 by $0.05. The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. As a group, analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a 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%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NSC. JPMorgan Chase & Co. reissued a "neutral" rating and set a $288.00 price target (up previously from $282.00) on shares of Norfolk Southern in a research report on Wednesday, July 30th. Barclays boosted their target price on shares of Norfolk Southern from $290.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Bank of America upped their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Evercore ISI reaffirmed an "in-line" rating and set a $289.00 price target (up from $279.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. Finally, Baird R W upgraded shares of Norfolk Southern to a "hold" rating in a report on Tuesday, July 1st. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $285.15.

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.