Norfolk Southern Corporation (NYSE:NSC) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 34.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,901 shares of the railroad operator's stock after selling 3,102 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Norfolk Southern were worth $1,398,000 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 NSC. Brighton Jones LLC increased its position in Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after purchasing an additional 79 shares in the last quarter. Wolverine Asset Management LLC grew its holdings in Norfolk Southern by 25.0% in the 4th quarter. Wolverine Asset Management LLC now owns 2,500 shares of the railroad operator's stock valued at $587,000 after buying an additional 500 shares during the period. Pinnacle Financial Partners Inc grew its holdings in Norfolk Southern by 1.9% in the 4th quarter. Pinnacle Financial Partners Inc now owns 3,773 shares of the railroad operator's stock valued at $886,000 after buying an additional 69 shares during the period. Fisher Funds Management LTD purchased a new stake in Norfolk Southern in the 4th quarter valued at about $2,320,000. Finally, Wealthspire Advisors LLC grew its holdings in Norfolk Southern by 5.1% in the 4th quarter. Wealthspire Advisors LLC now owns 5,197 shares of the railroad operator's stock valued at $1,220,000 after buying an additional 253 shares during the period. Hedge funds and other institutional investors own 75.10% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Jefferies Financial Group lowered their price target on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Bank of America boosted their price objective on shares of Norfolk Southern from $267.00 to $280.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Wells Fargo & Company cut their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $278.00 price target on shares of Norfolk Southern in a research report on Monday, June 2nd. Finally, UBS Group raised their price objective on Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $267.71.

Norfolk Southern Stock Up 0.4%

Shares of Norfolk Southern stock traded up $1.10 on Tuesday, hitting $257.68. 1,193,332 shares of the company's stock traded hands, compared to its average volume of 1,238,659. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $277.60. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 1.15. The stock has a market cap of $58.09 billion, a P/E ratio of 17.60, a PEG ratio of 2.02 and a beta of 1.32. The firm's 50-day moving average is $237.88 and its 200 day moving average is $239.10.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. The company's revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $2.49 earnings per share. Equities analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current 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 dividend on an annualized basis and a yield of 2.10%. Norfolk Southern's dividend payout ratio (DPR) is 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.