Dearborn Partners LLC Cuts Holdings in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Dearborn Partners LLC has reduced its stake in Norfolk Southern Corporation by 19.6%, now holding shares valued at $875,000 after selling 902 shares in the first quarter.
• Several large investors have increased their positions in Norfolk Southern, with Price T Rowe Associates Inc. raising its stake by 11.9% to over $2 billion in value during the fourth quarter.
• Norfolk Southern is forecasted to report an annual earnings per share of $13 for the current fiscal year, with recent analysts upgrading price targets significantly between $300 and $323.

Dearborn Partners LLC lowered its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 19.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,696 shares of the railroad operator's stock after selling 902 shares during the period. Dearborn Partners LLC's holdings in Norfolk Southern were worth $875,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Norfolk Southern during the fourth quarter worth $28,000. Putney Financial Group LLC acquired a new stake in shares of Norfolk Southern during the fourth quarter worth $30,000. Greenline Partners LLC acquired a new stake in shares of Norfolk Southern during the fourth quarter worth $31,000. HWG Holdings LP acquired a new stake in shares of Norfolk Southern during the first quarter worth $35,000. Finally, Physician Wealth Advisors Inc. increased its position 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 worth $35,000 after buying an additional 84 shares during the period. Institutional investors own 75.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Evercore ISI reiterated an "in-line" rating and set a $289.00 price objective (up from $279.00) on shares of Norfolk Southern in a research report on Wednesday. Susquehanna reiterated a "neutral" rating and set a $260.00 price objective (up from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Jefferies Financial Group restated a "hold" rating and issued a $300.00 price target on shares of Norfolk Southern in a report on Friday, July 25th. Benchmark cut shares of Norfolk Southern from a "buy" rating to a "hold" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $288.00 price target (up from $282.00) on shares of Norfolk Southern in a report on Wednesday. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $285.15.

Norfolk Southern Stock Down 1.2%

Shares of Norfolk Southern stock traded down $3.43 during trading hours on Friday, reaching $274.57. The company's stock had a trading volume of 2,727,424 shares, compared to its average volume of 2,852,299. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $288.11. The company has a market capitalization of $61.67 billion, a P/E ratio of 18.55, a P/E/G ratio of 2.46 and a beta of 1.31. The stock's fifty day simple moving average is $259.97 and its two-hundred day simple moving average is $244.70. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.70 and a current ratio of 0.79.

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 for the quarter, beating analysts' consensus estimates of $3.24 by $0.05. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. On average, research analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 1st will be issued a dividend of $1.35 per share. The ex-dividend date is Friday, August 1st. This represents a $5.40 annualized dividend and a yield of 2.0%. Norfolk Southern's payout ratio is 36.49%.

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.