Envestnet Asset Management Inc. Sells 10,137 Shares of Norfolk Southern Corporation (NYSE:NSC)

Envestnet Asset Management Inc. trimmed its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 456,552 shares of the railroad operator's stock after selling 10,137 shares during the period. Envestnet Asset Management Inc. owned 0.19% of Norfolk Southern worth $108,134,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Brighton Jones LLC grew its stake in Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock valued at $400,000 after purchasing an additional 79 shares in the last quarter. Assetmark Inc. grew its stake in Norfolk Southern by 9.9% in the 4th quarter. Assetmark Inc. now owns 3,210 shares of the railroad operator's stock valued at $753,000 after buying an additional 289 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Norfolk Southern during the 4th quarter valued at approximately $218,000. Daiwa Securities Group Inc. grew its stake in shares of Norfolk Southern by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 29,769 shares of the railroad operator's stock worth $6,987,000 after acquiring an additional 2,121 shares during the last quarter. Finally, Independent Advisor Alliance increased its holdings in shares of Norfolk Southern by 3.1% during the 4th quarter. Independent Advisor Alliance now owns 7,082 shares of the railroad operator's stock worth $1,662,000 after purchasing an additional 214 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Trading Up 1.2%

Norfolk Southern stock traded up $3.04 during trading hours on Thursday, reaching $263.08. 902,927 shares of the company's stock traded hands, compared to its average volume of 1,234,522. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $277.60. The firm's 50 day moving average is $246.32 and its 200-day moving average is $240.29. 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 $59.31 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 2.12 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly 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). 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% compared to the same quarter last year. During the same period last year, the company earned $2.49 earnings per share. On average, analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.05%. Norfolk Southern's dividend payout ratio is 36.89%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NSC shares. Jefferies Financial Group decreased their price target on shares of Norfolk Southern from $285.00 to $260.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Stifel Nicolaus decreased their target price on shares of Norfolk Southern from $265.00 to $247.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an "overweight" rating in a research note on Tuesday. Evercore ISI lowered their price objective on Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, UBS Group raised their target price on Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, Norfolk Southern currently has a consensus rating of "Moderate Buy" and a consensus target price of $273.80.

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.