Norfolk Southern Corporation (NYSE:NSC) Shares Sold by Davis R M Inc.

Key Points

• Davis R M Inc. reduced its holdings in Norfolk Southern by 21.5%, now owning 6,815 shares valued at approximately $1.614 million.
• Norfolk Southern recently announced a quarterly dividend of $1.35, representing an annualized dividend of $5.40 and a dividend yield of 1.9%.
• Investment analysts currently rate Norfolk Southern with an average target price of $285.15, with 14 hold ratings and 7 buy ratings issued by various brokerages.

Davis R M Inc. lessened its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 21.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,815 shares of the railroad operator's stock after selling 1,862 shares during the period. Davis R M Inc.'s holdings in Norfolk Southern were worth $1,614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in NSC. NorthRock Partners LLC grew its holdings in shares of Norfolk Southern by 3.1% during the first quarter. NorthRock Partners LLC now owns 2,567 shares of the railroad operator's stock valued at $608,000 after buying an additional 78 shares during the last quarter. Tower Bridge Advisors increased its position in shares of Norfolk Southern by 0.6% in the first quarter. Tower Bridge Advisors now owns 8,306 shares of the railroad operator's stock valued at $1,967,000 after acquiring an additional 50 shares during the period. Arkadios Wealth Advisors raised its stake in Norfolk Southern by 7.7% in the first quarter. Arkadios Wealth Advisors now owns 3,295 shares of the railroad operator's stock worth $780,000 after buying an additional 236 shares in the last quarter. Vestcor Inc grew its holdings in shares of Norfolk Southern by 1.5% during the first quarter. Vestcor Inc now owns 4,507 shares of the railroad operator's stock valued at $1,067,000 after buying an additional 68 shares during the last quarter. Finally, Cutler Investment Counsel LLC increased its holdings in Norfolk Southern by 99.2% during the first quarter. Cutler Investment Counsel LLC now owns 2,008 shares of the railroad operator's stock valued at $476,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Up 0.2%

NYSE:NSC traded up $0.50 during trading hours on Tuesday, hitting $278.62. 1,016,394 shares of the company traded hands, compared to its average volume of 1,543,915. The company has a market cap of $62.58 billion, a PE ratio of 18.84, a PEG ratio of 2.44 and a beta of 1.31. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The firm's 50-day simple moving average is $260.72 and its 200-day simple moving average is $244.93. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $288.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data 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. The firm 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%. Equities analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently issued reports on NSC shares. Evercore ISI reaffirmed an "in-line" rating and set a $289.00 target price (up from $279.00) on shares of Norfolk Southern in a research report on Wednesday, July 30th. Stifel Nicolaus reduced their price target on shares of Norfolk Southern from $265.00 to $247.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Robert W. Baird increased their target price on shares of Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group reissued a "neutral" rating and set a $278.00 price objective on shares of Norfolk Southern in a report on Monday, June 2nd. Finally, UBS Group boosted their price target on shares of Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Norfolk Southern has a consensus rating of "Hold" and an average price target 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.