KBC Group NV Reduces Stake in Norfolk Southern Corporation (NYSE:NSC)

KBC Group NV cut its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 15.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,010 shares of the railroad operator's stock after selling 3,074 shares during the period. KBC Group NV's holdings in Norfolk Southern were worth $4,029,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NSC. Geode Capital Management LLC boosted its stake in Norfolk Southern by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock worth $1,098,472,000 after purchasing an additional 113,648 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Norfolk Southern by 2.3% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock valued at $1,333,000 after buying an additional 128 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its position in Norfolk Southern by 1.9% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator's stock worth $846,000 after buying an additional 65 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Norfolk Southern by 4.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator's stock worth $16,925,000 after acquiring an additional 2,782 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Norfolk Southern by 8.3% in the 1st quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator's stock valued at $990,000 after acquiring an additional 321 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company's stock.

Analysts Set New Price Targets

NSC has been the topic of several research reports. Citigroup cut their price target on Norfolk Southern from $298.00 to $259.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Susquehanna restated a "neutral" rating and set a $260.00 target price (up from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Bank of America raised their target price on shares of Norfolk Southern from $280.00 to $290.00 and gave the company a "buy" rating in a research note on Wednesday. Royal Bank Of Canada cut their price objective on shares of Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Evercore ISI lowered their target price on shares of Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Norfolk Southern presently has an average rating of "Moderate Buy" and an average target price of $267.48.

Norfolk Southern Stock Performance

Norfolk Southern stock traded up $0.50 during trading on Friday, hitting $262.50. The stock had a trading volume of 928,463 shares, compared to its average volume of 1,237,129. 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's 50 day moving average is $243.25 and its two-hundred day moving average is $239.60. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $277.60. The stock has a market cap of $59.18 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 2.06 and a beta of 1.31.

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

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Friday, May 2nd. Norfolk Southern's dividend payout ratio (DPR) is currently 36.89%.

Norfolk Southern 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.