Principal Financial Group Inc. Lowers Stock Position in Norfolk Southern Corporation (NYSE:NSC)

Principal Financial Group Inc. reduced its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,986 shares of the railroad operator's stock after selling 1,303 shares during the quarter. 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 institutional investors and hedge funds have also bought and sold shares of the business. Strategic Investment Solutions Inc. IL grew its position in Norfolk Southern by 16.9% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator's stock valued at $71,000 after acquiring an additional 44 shares during the last quarter. CoreCap Advisors LLC grew its position in Norfolk Southern by 1.5% during the fourth quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock valued at $727,000 after acquiring an additional 45 shares during the last quarter. Canandaigua National Trust Co of Florida grew its position in Norfolk Southern by 4.9% during the first quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock valued at $226,000 after acquiring an additional 45 shares during the last quarter. Malaga Cove Capital LLC grew its position 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 valued at $575,000 after acquiring an additional 50 shares during the last quarter. Finally, Salem Investment Counselors Inc. grew its position in Norfolk Southern by 1.2% during the first quarter. Salem Investment Counselors Inc. now owns 4,241 shares of the railroad operator's stock valued at $1,004,000 after acquiring an additional 50 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Trading Up 0.2%

NYSE:NSC traded up $0.50 during trading hours on Friday, hitting $262.50. The company had a trading volume of 928,463 shares, compared to its average volume of 1,238,299. The company has a market capitalization of $59.18 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.13 and a beta of 1.31. The stock has a 50-day moving average price of $244.07 and a 200 day moving average price of $239.75. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 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.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.03). The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. The business's revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $2.49 EPS. On average, equities research analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

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

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of recent research reports. Robert W. Baird initiated coverage on shares of Norfolk Southern in a research report on Tuesday, July 1st. They set a "neutral" rating and a $255.00 price target on the stock. UBS Group raised their target price on shares of Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a report on Friday, May 30th. BMO Capital Markets restated a "market perform" rating and issued a $255.00 target price on shares of Norfolk Southern in a report on Thursday, April 24th. Bank of America raised their target price on shares of Norfolk Southern from $280.00 to $290.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Citigroup cut their target price on shares of Norfolk Southern from $298.00 to $259.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. One research 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. According to data from MarketBeat, Norfolk Southern currently has an average rating of "Moderate Buy" and a consensus price target of $267.48.

Norfolk Southern Company 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.