Janney Montgomery Scott LLC Sells 6,718 Shares of Norfolk Southern Corporation (NYSE:NSC)

Janney Montgomery Scott LLC lessened its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 105,319 shares of the railroad operator's stock after selling 6,718 shares during the quarter. Janney Montgomery Scott LLC's holdings in Norfolk Southern were worth $24,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Bank of Jackson Hole Trust bought a new position in shares of Norfolk Southern during the fourth quarter valued at approximately $27,000. Vision Financial Markets LLC bought a new position in Norfolk Southern during the 4th quarter valued at approximately $28,000. Fourth Dimension Wealth LLC purchased a new position in Norfolk Southern during the fourth quarter valued at $28,000. Atlantic Private Wealth LLC bought a new stake in Norfolk Southern in the fourth quarter worth $29,000. Finally, Putney Financial Group LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter worth $30,000. 75.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada lowered their price target on Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus decreased their target price on shares of Norfolk Southern from $265.00 to $247.00 and set a "hold" rating for the company in a report on Monday, April 14th. Barclays dropped their target price on shares of Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Susquehanna reduced 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 report on Thursday, April 24th. Finally, Jefferies Financial Group lowered their price objective on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Norfolk Southern presently has a consensus rating of "Moderate Buy" and an average target price of $267.24.

Norfolk Southern Stock Performance

NYSE NSC traded up $2.00 during trading hours on Thursday, hitting $252.42. 1,410,906 shares of the company's stock traded hands, compared to its average volume of 1,238,037. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $277.60. The firm has a market capitalization of $56.91 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.99 and a beta of 1.32. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 1.15. The business's fifty day moving average price is $234.93 and its two-hundred day moving average price is $239.62.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm earned $2.49 EPS. The company's revenue was down .4% on a year-over-year basis. Equities research analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, May 2nd. Norfolk Southern's dividend payout ratio (DPR) is currently 36.89%.

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.