Norfolk Southern Corporation $NSC Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp cut its Norfolk Southern stake by 20.5% in the fourth quarter, selling 337,265 shares and leaving it with 1.31 million shares valued at about $378.4 million.
• Norfolk Southern reported quarterly EPS of $2.65, topping analyst estimates, though revenue of $3.0 billion came in below expectations. The company also posted a 21.91% net margin and 18.30% return on equity.
• The railroad paid a $1.35 quarterly dividend, equal to $5.40 annually and a 1.8% yield. Analysts currently rate the stock a consensus Hold with an average price target of $322.29.

Bank of New York Mellon Corp reduced its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 20.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,310,516 shares of the railroad operator's stock after selling 337,265 shares during the quarter. Bank of New York Mellon Corp owned 0.58% of Norfolk Southern worth $378,372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. grew its position in Norfolk Southern by 1.4% during the fourth quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator's stock worth $726,000 after buying an additional 35 shares during the period. Moss Adams Wealth Advisors LLC grew its position in Norfolk Southern by 4.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator's stock worth $228,000 after buying an additional 35 shares during the period. Confluence Wealth Services Inc. grew its position in Norfolk Southern by 1.1% during the fourth quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator's stock worth $892,000 after buying an additional 35 shares during the period. Exencial Wealth Advisors LLC grew its position in Norfolk Southern by 1.1% during the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator's stock worth $929,000 after buying an additional 35 shares during the period. Finally, Quotient Wealth Partners LLC grew its position in Norfolk Southern by 4.5% during the fourth quarter. Quotient Wealth Partners LLC now owns 864 shares of the railroad operator's stock worth $250,000 after buying an additional 37 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Up 0.7%

Shares of NYSE NSC opened at $307.22 on Friday. Norfolk Southern Corporation has a 12-month low of $245.19 and a 12-month high of $326.00. The company has a market capitalization of $69.00 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 5.64 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The firm's 50-day moving average is $305.08 and its two-hundred day moving average is $298.97.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.69 earnings per share. Equities analysts anticipate that Norfolk Southern Corporation will post 12.11 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. Norfolk Southern's dividend payout ratio is presently 45.49%.

Analyst Ratings Changes

Several brokerages have weighed in on NSC. TD Cowen upped their target price on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Citigroup restated a "neutral" rating on shares of Norfolk Southern in a research report on Friday, April 24th. Susquehanna upped their target price on shares of Norfolk Southern from $305.00 to $330.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 22nd. Wolfe Research upped their price target on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an "outperform" rating in a report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Norfolk Southern from $296.00 to $292.00 and set a "neutral" rating on the stock in a report on Tuesday, April 7th. Six analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $322.29.

Norfolk Southern Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.

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