Norfolk Southern Corporation (NYSE:NSC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,986 shares of the railroad operator's stock after selling 1,303 shares during the period. Principal Financial Group Inc. owned about 0.10% of Norfolk Southern worth $59,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mutual Advisors LLC raised its holdings in Norfolk Southern by 10.1% in the 1st quarter. Mutual Advisors LLC now owns 4,297 shares of the railroad operator's stock worth $953,000 after purchasing an additional 395 shares during the period. Teacher Retirement System of Texas boosted its position in Norfolk Southern by 185.2% during the first quarter. Teacher Retirement System of Texas now owns 105,805 shares of the railroad operator's stock worth $25,060,000 after purchasing an additional 68,709 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Norfolk Southern by 32.8% during the first quarter. First Horizon Advisors Inc. now owns 3,047 shares of the railroad operator's stock worth $722,000 after purchasing an additional 752 shares in the last quarter. Private Trust Co. NA boosted its position in Norfolk Southern by 3.3% during the first quarter. Private Trust Co. NA now owns 5,309 shares of the railroad operator's stock worth $1,257,000 after purchasing an additional 172 shares in the last quarter. Finally, O Brien Wealth Partners LLC boosted its position in Norfolk Southern by 24.5% during the first quarter. O Brien Wealth Partners LLC now owns 508 shares of the railroad operator's stock worth $120,000 after purchasing an additional 100 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 0.9%

NSC traded up $2.37 during trading hours on Tuesday, reaching $262.36. The company's stock had a trading volume of 422,271 shares, compared to its average volume of 1,233,621. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $277.60. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.78 and a quick ratio of 0.70. The stock has a market cap of $59.15 billion, a PE ratio of 17.92, a P/E/G ratio of 2.13 and a beta of 1.31. The business's 50-day moving average is $244.83 and its 200-day moving average is $240.00.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 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 business had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter in the prior year, the firm earned $2.49 EPS. Norfolk Southern's revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were given 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 is currently 36.89%.

Analyst Ratings Changes

NSC has been the topic of a number of recent analyst reports. Susquehanna reiterated a "neutral" rating and set a $260.00 price target (up previously from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Citigroup lowered their price target on Norfolk Southern from $298.00 to $259.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Royal Bank Of Canada decreased their target price on Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. BMO Capital Markets restated a "market perform" rating and issued a $255.00 target price on shares of Norfolk Southern in a research report on Thursday, April 24th. Finally, Jefferies Financial Group decreased their target price on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $267.29.

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.