Kentucky Retirement Systems Insurance Trust Fund Has $1.56 Million Holdings in Norfolk Southern Corporation (NYSE:NSC)

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 39.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,573 shares of the railroad operator's stock after selling 4,366 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Norfolk Southern were worth $1,557,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Vision Financial Markets LLC bought a new position in Norfolk Southern during the 4th quarter worth approximately $28,000. Fourth Dimension Wealth LLC bought a new position in Norfolk Southern in the fourth quarter worth about $28,000. Atlantic Private Wealth LLC bought a new position in shares of Norfolk Southern during the fourth quarter valued at approximately $29,000. Putney Financial Group LLC acquired a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $30,000. Finally, Greenline Partners LLC bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $31,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on NSC. Deutsche Bank Aktiengesellschaft began coverage on shares of Norfolk Southern in a report on Friday, March 7th. They issued a "buy" rating and a $293.00 price objective on the stock. BMO Capital Markets reissued a "market perform" rating and set a $255.00 target price on shares of Norfolk Southern in a research note on Thursday, April 24th. Stifel Nicolaus lowered their price objective on shares of Norfolk Southern from $265.00 to $247.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Susquehanna increased their price target on Norfolk Southern from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Jefferies Financial Group cut their price objective on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $267.71.

Norfolk Southern Stock Up 0.4%

Shares of NYSE NSC traded up $1.10 during mid-day trading on Tuesday, reaching $257.68. The company had a trading volume of 1,193,332 shares, compared to its average volume of 1,238,659. The stock has a fifty day moving average of $237.08 and a two-hundred day moving average of $238.97. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $277.60. The company has a market capitalization of $58.09 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.02 and a beta of 1.32. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.70 and a current ratio of 0.78.

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

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Friday, May 2nd. Norfolk Southern's dividend payout ratio (DPR) is presently 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.