Core Alternative Capital Reduces Holdings in Norfolk Southern Corporation (NYSE:NSC)

Core Alternative Capital reduced its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 21.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,895 shares of the railroad operator's stock after selling 5,834 shares during the period. Core Alternative Capital's holdings in Norfolk Southern were worth $4,949,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Concurrent Investment Advisors LLC lifted its holdings in Norfolk Southern by 8.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 11,901 shares of the railroad operator's stock worth $2,819,000 after buying an additional 972 shares during the last quarter. World Investment Advisors lifted its stake in Norfolk Southern by 0.7% during the first quarter. World Investment Advisors now owns 11,631 shares of the railroad operator's stock worth $2,755,000 after purchasing an additional 76 shares during the last quarter. Capital Investment Advisory Services LLC lifted its stake in Norfolk Southern by 1.8% during the first quarter. Capital Investment Advisory Services LLC now owns 2,556 shares of the railroad operator's stock worth $605,000 after purchasing an additional 45 shares during the last quarter. Strategic Blueprint LLC lifted its stake in Norfolk Southern by 15.0% during the first quarter. Strategic Blueprint LLC now owns 1,079 shares of the railroad operator's stock worth $256,000 after purchasing an additional 141 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Norfolk Southern during the first quarter worth approximately $171,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NSC has been the subject of several recent analyst reports. BMO Capital Markets restated a "market perform" rating and set a $255.00 price objective on shares of Norfolk Southern in a research report on Thursday, April 24th. Royal Bank Of Canada reduced their target price on Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Barclays reduced their target price on Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. UBS Group boosted their price objective on Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Finally, Baird R W upgraded Norfolk Southern to a "hold" rating in a research note on Tuesday, July 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $267.48.

Norfolk Southern Price Performance

NYSE:NSC traded down $2.49 during trading hours on Monday, hitting $260.01. The company's stock had a trading volume of 860,172 shares, compared to its average volume of 1,236,867. The business's 50-day moving average is $244.07 and its two-hundred day moving average is $239.82. 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 company has a market capitalization of $58.62 billion, a PE ratio of 17.76, a PEG ratio of 2.13 and a beta of 1.31. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (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 company 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 business earned $2.49 EPS. The business's revenue for the quarter was down .4% compared to the same quarter last year. As a group, research analysts anticipate 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. Investors of record on Friday, May 2nd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.08%. The ex-dividend date was Friday, May 2nd. Norfolk Southern's payout ratio is currently 36.89%.

About Norfolk Southern

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.