New York State Common Retirement Fund Sells 5,800 Shares of Norfolk Southern Corporation (NYSE:NSC)

New York State Common Retirement Fund lessened its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 263,820 shares of the railroad operator's stock after selling 5,800 shares during the period. New York State Common Retirement Fund owned about 0.12% of Norfolk Southern worth $62,486,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of NSC. Fourth Dimension Wealth LLC acquired a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $28,000. Atlantic Private Wealth LLC bought a new position in shares of Norfolk Southern in the 4th quarter valued at $29,000. Putney Financial Group LLC bought a new position in shares of Norfolk Southern in the 4th quarter valued at $30,000. Greenline Partners LLC bought a new position in Norfolk Southern during the 4th quarter worth $31,000. Finally, HWG Holdings LP bought a new position in Norfolk Southern during the 1st quarter worth $35,000. Institutional investors own 75.10% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NSC. BMO Capital Markets reissued a "market perform" rating and issued a $255.00 price objective on shares of Norfolk Southern in a research report on Thursday, April 24th. Jefferies Financial Group lowered their price objective on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Evercore ISI reduced their target price on Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Bank of America raised their target price on Norfolk Southern from $280.00 to $290.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Sanford C. Bernstein lifted their price target on Norfolk Southern from $258.00 to $295.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $273.80.

Norfolk Southern Price Performance

Shares of NSC opened at $266.47 on Monday. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $277.60. The company has a market capitalization of $60.07 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 2.18 and a beta of 1.31. The firm has a 50-day simple moving average of $247.98 and a 200-day simple moving average of $240.71. 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 issued its earnings results 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 company had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same period last year, the business posted $2.49 earnings per share. The company's quarterly revenue was down .4% on a year-over-year basis. On average, equities research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were issued a $1.35 dividend. The ex-dividend date was Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.03%. Norfolk Southern's dividend payout ratio (DPR) is presently 36.89%.

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.

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