Norfolk Southern Corporation (NYSE:NSC) Stake Reduced by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. trimmed its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,753 shares of the railroad operator's stock after selling 1,127 shares during the period. Norfolk Southern accounts for approximately 1.7% of Richard C. Young & CO. LTD.'s holdings, making the stock its 26th largest holding. Richard C. Young & CO. LTD.'s holdings in Norfolk Southern were worth $15,574,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $28,000. Atlantic Private Wealth LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $29,000. Putney Financial Group LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $30,000. Greenline Partners LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $31,000. Finally, HWG Holdings LP acquired a new position in shares of Norfolk Southern in the 1st quarter valued at about $35,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NSC shares. Stifel Nicolaus reduced their price objective on Norfolk Southern from $265.00 to $247.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Royal Bank Of Canada reduced their price target on Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Barclays reduced their price target on Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Evercore ISI reduced their price target on Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $278.00 price target on shares of Norfolk Southern in a research report on Monday, June 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Norfolk Southern has an average rating of "Moderate Buy" and a consensus price target of $274.55.

Norfolk Southern Stock Up 3.6%

Shares of NSC traded up $9.46 during trading on Thursday, reaching $269.78. The company's stock had a trading volume of 3,002,103 shares, compared to its average volume of 1,247,751. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $290.72. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 1.15. The company has a market cap of $60.82 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 2.13 and a beta of 1.31. The company has a fifty day moving average of $250.41 and a two-hundred day moving average of $241.17.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share 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 during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the firm posted $2.49 earnings per share. Norfolk Southern's revenue was down .4% compared to the same quarter last year. On average, sell-side analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were paid 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 yield of 2.00%. Norfolk Southern's payout ratio is currently 36.89%.

Norfolk Southern 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.