Public Employees Retirement System of Ohio Lowers Stock Position in Norfolk Southern Co. (NYSE:NSC)

Public Employees Retirement System of Ohio decreased its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,026 shares of the railroad operator's stock after selling 4,754 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Norfolk Southern were worth $22,537,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NSC. Geode Capital Management LLC raised its position in Norfolk Southern by 2.5% during 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 acquiring an additional 113,648 shares in the last quarter. Caprock Group LLC acquired a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $1,796,000. Dorsey & Whitney Trust CO LLC increased its position in Norfolk Southern by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock worth $1,333,000 after buying an additional 128 shares during the period. Clarendon Private LLC bought a new stake in Norfolk Southern in the 4th quarter valued at about $309,000. Finally, Ausbil Investment Management Ltd bought a new stake in shares of Norfolk Southern during the 4th quarter valued at $4,703,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Up 0.6%

Shares of NSC stock traded up $1.55 during trading hours on Friday, reaching $247.85. 890,036 shares of the company's stock were exchanged, compared to its average volume of 1,215,375. Norfolk Southern Co. has a fifty-two week low of $201.63 and a fifty-two week high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The company has a market cap of $55.88 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 2.31 and a beta of 1.30. The stock's 50 day moving average is $227.89 and its 200-day moving average is $241.42.

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). The firm had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $3.01 billion. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The business's revenue was down .4% on a year-over-year basis. During the same quarter last year, the business earned $2.49 EPS. Analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm 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. This represents a $5.40 annualized dividend and a yield of 2.18%. The ex-dividend date was Friday, May 2nd. Norfolk Southern's payout ratio is 36.89%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NSC shares. JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Norfolk Southern in a report on Friday, March 7th. They set a "buy" rating and a $293.00 price objective on the stock. Susquehanna decreased their price target on Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. 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. Finally, Loop Capital lowered Norfolk Southern from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $266.70.

About Norfolk Southern

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.