Keybank National Association OH Sells 3,441 Shares of Norfolk Southern Corporation (NYSE:NSC)

Keybank National Association OH lowered its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,678 shares of the railroad operator's stock after selling 3,441 shares during the period. Keybank National Association OH owned about 0.05% of Norfolk Southern worth $29,293,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 113,648 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of Norfolk Southern by 2.3% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock worth $1,333,000 after acquiring an additional 128 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in Norfolk Southern by 1.9% during the first quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator's stock valued at $846,000 after acquiring an additional 65 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Norfolk Southern by 4.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator's stock valued at $16,925,000 after acquiring an additional 2,782 shares during the last quarter. Finally, Brevan Howard Capital Management LP lifted its stake in Norfolk Southern by 472.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 43,054 shares of the railroad operator's stock worth $10,105,000 after purchasing an additional 35,531 shares in the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Down 0.2%

Shares of NYSE:NSC opened at $261.96 on Thursday. 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 company has a market capitalization of $59.06 billion, a PE ratio of 17.89, a P/E/G ratio of 2.06 and a beta of 1.31. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $277.60. The business's fifty day simple moving average is $242.54 and its 200-day simple moving average is $239.47.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate 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 27.40% and a return on equity of 19.65%. Norfolk Southern's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $2.49 EPS. As a group, equities research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were given a dividend of $1.35 per share. The ex-dividend date was Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.06%. Norfolk Southern's payout ratio is 36.89%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NSC. Bank of America upped their price objective on Norfolk Southern from $280.00 to $290.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays decreased their price objective on shares of Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Robert W. Baird initiated coverage on shares of Norfolk Southern in a research note on Tuesday. They set a "neutral" rating and a $255.00 target price for the company. Susquehanna reaffirmed a "neutral" rating and issued a $260.00 price target (up previously from $250.00) on shares of Norfolk Southern in a research note on Tuesday, June 24th. Finally, Stifel Nicolaus dropped their target price 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Norfolk Southern presently has an average rating of "Moderate Buy" and a consensus price target of $267.48.

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.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corporation (NYSE:NSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.