Skylands Capital LLC Reduces Stock Holdings in Norfolk Southern Corporation (NYSE:NSC)

Skylands Capital LLC trimmed its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,285 shares of the railroad operator's stock after selling 2,385 shares during the quarter. Norfolk Southern makes up 2.1% of Skylands Capital LLC's portfolio, making the stock its 10th biggest position. Skylands Capital LLC's holdings in Norfolk Southern were worth $14,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL lifted its holdings in Norfolk Southern by 16.9% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator's stock worth $71,000 after buying an additional 44 shares during the last quarter. CoreCap Advisors LLC lifted its stake in Norfolk Southern by 1.5% during the fourth quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock worth $727,000 after purchasing an additional 45 shares during the last quarter. Malaga Cove Capital LLC lifted its stake in Norfolk Southern by 2.1% during the fourth quarter. Malaga Cove Capital LLC now owns 2,451 shares of the railroad operator's stock worth $575,000 after purchasing an additional 50 shares during the last quarter. Salem Investment Counselors Inc. boosted its holdings in Norfolk Southern by 1.2% in the first quarter. Salem Investment Counselors Inc. now owns 4,241 shares of the railroad operator's stock worth $1,004,000 after purchasing an additional 50 shares during the period. Finally, Duncker Streett & Co. Inc. raised its holdings in shares of Norfolk Southern by 11.2% during the first quarter. Duncker Streett & Co. Inc. now owns 495 shares of the railroad operator's stock worth $117,000 after purchasing an additional 50 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NYSE:NSC traded up $6.49 during trading on Tuesday, reaching $262.46. The company had a trading volume of 1,309,416 shares, compared to its average volume of 1,231,249. The firm's fifty day moving average is $241.74 and its 200 day moving average is $239.31. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.70 and a current ratio of 0.78. The firm has a market capitalization of $59.17 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.01 and a beta of 1.31. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share 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 analyst estimates of $3.01 billion. Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. The business's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the company earned $2.49 earnings per share. On average, equities analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.06%. Norfolk Southern's dividend payout ratio is currently 36.89%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barclays decreased their price target on shares of Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company lowered their target price on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Robert W. Baird started coverage on Norfolk Southern in a report on Tuesday. They issued a "neutral" rating and a $255.00 price target on the stock. Stifel Nicolaus reduced their price objective on Norfolk Southern from $265.00 to $247.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Norfolk Southern in a research note on Friday, March 7th. They set a "buy" rating and a $293.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $267.00.

Norfolk Southern 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.