Norfolk Southern Corporation (NYSE:NSC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 2.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Norfolk Southern by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 20,089,164 shares of the railroad operator's stock valued at $4,714,927,000 after purchasing an additional 139,485 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Norfolk Southern by 11.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator's stock valued at $2,020,318,000 after purchasing an additional 918,559 shares during the period. Geode Capital Management LLC boosted its stake in Norfolk Southern by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock valued at $1,098,472,000 after purchasing an additional 113,648 shares during the period. Boston Partners boosted its stake in Norfolk Southern by 16.9% during the 4th quarter. Boston Partners now owns 4,020,392 shares of the railroad operator's stock valued at $945,385,000 after purchasing an additional 580,293 shares during the period. Finally, EdgePoint Investment Group Inc. raised its position in shares of Norfolk Southern by 1.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 3,968,582 shares of the railroad operator's stock worth $931,426,000 after buying an additional 75,865 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 0.3%

NSC stock opened at $260.47 on Thursday. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $277.60. The company's 50 day simple moving average is $246.32 and its 200-day simple moving average is $240.29. 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 firm has a market capitalization of $58.72 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.12 and a beta of 1.31.

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 (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 firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the firm earned $2.49 EPS. The firm's revenue was down .4% compared to the same quarter last year. As a group, equities research analysts anticipate that Norfolk Southern Corporation will post 13 EPS 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 issued 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 2.07%. 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 analyst reports. Sanford C. Bernstein boosted their price target on shares of Norfolk Southern from $258.00 to $295.00 and gave the stock an "outperform" rating in a research report on Tuesday. Stifel Nicolaus dropped their price target 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. 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. Wells Fargo & Company dropped their price target on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, Jefferies Financial Group dropped 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 report on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $273.80.

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.

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