Factorial Partners LLC Sells 2,250 Shares of Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Factorial Partners LLC has reduced its stake in Norfolk Southern Corporation by 35.6%, selling 2,250 shares in the latest quarter, representing a total ownership of 4,070 shares valued at approximately $964,000.
• Norfolk Southern recently reported earnings, posting an EPS of $3.29 which exceeded analyst expectations, along with a revenue of $3.11 billion for the quarter.
• The company declared a quarterly dividend of $1.35 per share, with a scheduled payment date of August 20th, reflecting an annualized yield of 1.9%.

Factorial Partners LLC reduced its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 35.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,070 shares of the railroad operator's stock after selling 2,250 shares during the period. Factorial Partners LLC's holdings in Norfolk Southern were worth $964,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wills Financial Group LLC purchased a new stake in shares of Norfolk Southern in the 1st quarter valued at about $1,489,000. Raiffeisen Bank International AG acquired a new position in Norfolk Southern in the 1st quarter valued at about $575,000. Scotia Capital Inc. increased its position in Norfolk Southern by 3.2% in the 1st quarter. Scotia Capital Inc. now owns 19,069 shares of the railroad operator's stock valued at $4,516,000 after acquiring an additional 598 shares during the period. Cheviot Value Management LLC acquired a new position in Norfolk Southern in the 1st quarter valued at about $341,000. Finally, Bank of Nova Scotia increased its position in Norfolk Southern by 181.4% during the 1st quarter. Bank of Nova Scotia now owns 93,630 shares of the railroad operator's stock worth $22,176,000 after purchasing an additional 60,353 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Evercore ISI reissued an "in-line" rating and set a $289.00 price target (up previously from $279.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Benchmark downgraded Norfolk Southern from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. TD Cowen upgraded Norfolk Southern from a "hold" rating to a "buy" rating and upped their price objective for the stock from $263.00 to $323.00 in a report on Monday, July 21st. Stifel Nicolaus lowered their price target on Norfolk Southern from $265.00 to $247.00 and set a "hold" rating for the company in a report on Monday, April 14th. Finally, Baird R W raised shares of Norfolk Southern to a "hold" rating in a research report on Tuesday, July 1st. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $285.15.

Norfolk Southern Price Performance

NYSE NSC traded down $3.01 on Thursday, reaching $279.94. The company's stock had a trading volume of 2,187,523 shares, 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 firm has a market cap of $62.88 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $288.11. The business has a 50-day moving average price of $262.93 and a 200 day moving average price of $245.68.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

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

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.