New York State Teachers Retirement System decreased its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 165,079 shares of the railroad operator's stock after selling 6,095 shares during the period. New York State Teachers Retirement System owned 0.07% of Norfolk Southern worth $39,099,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vision Financial Markets LLC bought a new position in Norfolk Southern during the fourth quarter valued at $28,000. Fourth Dimension Wealth LLC bought a new position in shares of Norfolk Southern during the 4th quarter worth $28,000. Atlantic Private Wealth LLC bought a new stake in Norfolk Southern in the 4th quarter valued at about $29,000. Putney Financial Group LLC purchased a new stake in Norfolk Southern during the fourth quarter valued at about $30,000. Finally, Greenline Partners LLC bought a new position in Norfolk Southern during the fourth quarter worth about $31,000. 75.10% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently weighed in on NSC. UBS Group lifted their price objective on shares of Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Citigroup reduced their price objective on shares of Norfolk Southern from $298.00 to $259.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Royal Bank Of Canada lowered their target price on shares of Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group reduced their price target on shares of Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Norfolk Southern in a report on Friday, March 7th. They issued a "buy" rating and a $293.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $267.48.
Check Out Our Latest Report on NSC
Norfolk Southern Trading Down 0.2%
Shares of NSC stock traded down $0.42 on Wednesday, hitting $261.96. 2,002,649 shares of the company's stock traded hands, compared to its average volume of 1,235,054. The stock has a market capitalization of $59.06 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 2.06 and a beta of 1.31. The company's fifty day simple moving average is $241.74 and its 200 day simple moving average is $239.31. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $277.60. 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 announced 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 company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the business posted $2.49 earnings per share. The firm's quarterly revenue was down .4% compared to the same quarter last year. Equities analysts forecast that Norfolk Southern Corporation will post 13 EPS 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 paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.06%. Norfolk Southern's dividend payout ratio (DPR) is currently 36.89%.
Norfolk Southern Company Profile
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Free Report)
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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