Natixis Advisors LLC Trims Holdings in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Natixis Advisors LLC has significantly reduced its stake in Norfolk Southern Corporation by 52.8%, owning 146,943 shares valued at approximately $34.8 million as of the latest report.
• The company announced a quarterly dividend of $1.35 per share, with an annualized dividend yield of 1.9%, to be paid on August 20th.
• Norfolk Southern reported earnings of $3.29 per share, exceeding analyst expectations, along with revenue of $3.11 billion for the last quarter.

Natixis Advisors LLC cut its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 52.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 146,943 shares of the railroad operator's stock after selling 164,558 shares during the period. Natixis Advisors LLC owned about 0.07% of Norfolk Southern worth $34,803,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new position in shares of Norfolk Southern during the 4th quarter worth $28,000. Putney Financial Group LLC bought a new stake in shares of Norfolk Southern in the 4th quarter worth about $30,000. Greenline Partners LLC purchased a new stake in Norfolk Southern in the 4th quarter valued at about $31,000. HWG Holdings LP purchased a new stake in shares of Norfolk Southern in the 1st quarter worth approximately $35,000. Finally, Physician Wealth Advisors Inc. lifted its position in Norfolk Southern by 129.2% during the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after acquiring an additional 84 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

NSC traded up $0.95 on Tuesday, reaching $279.07. The stock had a trading volume of 978,227 shares, compared to its average volume of 1,542,911. The firm has a 50-day moving average of $260.72 and a 200-day moving average of $244.93. The company has a market capitalization of $62.68 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 2.44 and a beta of 1.31. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $288.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, topping the consensus estimate of $3.24 by $0.05. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. As a group, sell-side analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 1st. Norfolk Southern's dividend payout ratio (DPR) is presently 36.49%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NSC shares. Benchmark downgraded shares of Norfolk Southern from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Susquehanna reiterated a "neutral" rating and set a $260.00 price target (up from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Evercore ISI restated an "in-line" rating and issued a $289.00 price objective (up previously from $279.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. Stifel Nicolaus lowered their price target on shares of Norfolk Southern from $265.00 to $247.00 and set a "hold" rating for the company in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $288.00 price objective (up previously from $282.00) on shares of Norfolk Southern in a research report on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of "Hold" and a consensus price target of $285.15.

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.