CX Institutional Sells 1,196 Shares of Norfolk Southern Co. (NYSE:NSC)

CX Institutional lowered its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 46.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,376 shares of the railroad operator's stock after selling 1,196 shares during the period. CX Institutional's holdings in Norfolk Southern were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Norfolk Southern by 2.5% during 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 purchasing an additional 113,648 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Norfolk Southern by 2.3% during 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 in the last quarter. Hoge Financial Services LLC bought a new position in shares of Norfolk Southern during the 4th quarter valued at about $238,000. Members Trust Co raised its position in Norfolk Southern by 64.0% in the 4th quarter. Members Trust Co now owns 2,575 shares of the railroad operator's stock valued at $604,000 after buying an additional 1,005 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new stake in Norfolk Southern in the 4th quarter valued at approximately $2,860,000. Institutional investors own 75.10% of the company's stock.

Analysts Set New Price Targets

NSC has been the topic of a number of recent research reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $278.00 target price on shares of Norfolk Southern in a research report on Monday, June 2nd. Bank of America lifted their target price on Norfolk Southern from $267.00 to $280.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Wells Fargo & Company dropped their target price on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Royal Bank of Canada dropped their target price on Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Citigroup dropped their target price on Norfolk Southern from $298.00 to $259.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of "Moderate Buy" and a consensus target price of $267.24.

Norfolk Southern Stock Performance

Shares of NYSE NSC traded down $3.17 during midday trading on Friday, hitting $248.30. 916,879 shares of the company's stock were exchanged, compared to its average volume of 1,234,234. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 12 month low of $201.63 and a 12 month high of $277.60. The company's 50 day moving average price is $232.84 and its 200 day moving average price is $239.87. The firm has a market capitalization of $55.98 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.31 and a beta of 1.32.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.03). The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The business's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.49 earnings per share. As a group, analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.17%. Norfolk Southern's dividend payout ratio (DPR) is presently 36.89%.

Norfolk Southern Company 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.