Fifth Third Bancorp Reduces Stake in Norfolk Southern Co. (NYSE:NSC)

Fifth Third Bancorp decreased its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,539 shares of the railroad operator's stock after selling 4,485 shares during the period. Fifth Third Bancorp's holdings in Norfolk Southern were worth $26,655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Jackson Hole Trust acquired a new position in Norfolk Southern in the fourth quarter valued at $27,000. Vision Financial Markets LLC acquired a new position in Norfolk Southern in the fourth quarter valued at $28,000. Fourth Dimension Wealth LLC bought a new stake in Norfolk Southern in the fourth quarter valued at $28,000. Atlantic Private Wealth LLC bought a new stake in Norfolk Southern in the fourth quarter valued at $29,000. Finally, Putney Financial Group LLC bought a new stake in Norfolk Southern in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Down 1.3%

NSC stock traded down $3.17 during trading on Friday, reaching $248.30. The stock had a trading volume of 916,879 shares, compared to its average volume of 1,234,234. Norfolk Southern Co. has a one year low of $201.63 and a one year high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The company's 50 day moving average is $232.84 and its two-hundred day moving average is $239.87. The company has a market capitalization of $55.98 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 2.31 and a beta of 1.32.

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

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Friday, May 2nd. Norfolk Southern's payout ratio is 36.89%.

Wall Street Analyst Weigh In

NSC has been the subject of several research analyst reports. Royal Bank of Canada decreased their price target on shares of Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Susquehanna decreased their price target on shares of Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Norfolk Southern in a research note on Friday, March 7th. They issued a "buy" rating and a $293.00 price target for the company. Evercore ISI decreased their price target on shares of Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, UBS Group boosted their target price on shares of Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $267.24.

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.