Norfolk Southern Corporation $NSC Shares Sold by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management cut its stake in Norfolk Southern by 34.7%, selling 51,699 shares and leaving it with 97,497 shares valued at $28.15 million, making NSC its 26th-largest holding (about 0.7% of the firm's portfolio).
• Norfolk Southern beat EPS estimates ($3.22 vs. $2.76) but slightly missed revenue forecasts ($3.0B vs. $3.03B); shares opened at $321.81 (up 7.9%) near a 1-year high, and the company declared a quarterly dividend of $1.35 ($5.40 annual, ~1.7% yield).
• Analysts have an overall "Hold" consensus on NSC with a $310.17 average target (7 Buys, 16 Holds), and institutional investors own about 75.1% of the stock.

Geneos Wealth Management Inc. lessened its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 34.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 97,497 shares of the railroad operator's stock after selling 51,699 shares during the quarter. Norfolk Southern accounts for approximately 0.7% of Geneos Wealth Management Inc.'s holdings, making the stock its 26th largest holding. Geneos Wealth Management Inc.'s holdings in Norfolk Southern were worth $28,149,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NSC. Brighton Jones LLC lifted its holdings in shares of Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after purchasing an additional 79 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Norfolk Southern by 40.4% during the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock worth $1,527,000 after purchasing an additional 1,855 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Norfolk Southern during the second quarter worth about $327,000. Schnieders Capital Management LLC. lifted its holdings in shares of Norfolk Southern by 64.1% during the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator's stock worth $1,094,000 after purchasing an additional 1,670 shares during the period. Finally, Jump Financial LLC lifted its holdings in shares of Norfolk Southern by 185.1% during the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator's stock worth $1,174,000 after purchasing an additional 2,979 shares during the period. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Trading Up 7.9%

Shares of NSC stock opened at $321.81 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The company has a market cap of $78.79 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 5.50 and a beta of 1.31. The stock has a 50 day simple moving average of $299.51 and a 200-day simple moving average of $293.60. Norfolk Southern Corporation has a 1-year low of $217.33 and a 1-year high of $322.20.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.46. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The business's quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.04 EPS. On average, equities research analysts expect that Norfolk Southern Corporation will post 12.14 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, May 8th. Norfolk Southern's dividend payout ratio is presently 42.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NSC shares. Zacks Research raised Norfolk Southern from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. Benchmark reaffirmed a "hold" rating on shares of Norfolk Southern in a report on Friday, January 30th. Citigroup lifted their target price on Norfolk Southern from $300.00 to $313.00 and gave the stock a "neutral" rating in a report on Tuesday, April 7th. Susquehanna lifted their target price on Norfolk Southern from $305.00 to $330.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, UBS Group downgraded Norfolk Southern from a "buy" rating to a "neutral" rating and set a $342.00 target price for the company. in a report on Friday, February 6th. Seven analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $310.17.

About Norfolk Southern

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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