Norfolk Southern Corporation (NYSE:NSC) Shares Sold by Sei Investments Co.

Key Points

• Sei Investments Co. reduced its stake in Norfolk Southern Corporation by 2.5% in Q1, now holding 241,115 shares worth approximately $56.6 million.
• Norfolk Southern reported an EPS of $3.29 for the last quarter, exceeding estimates by $0.05, with total revenues of $3.11 billion.
• The company declared a quarterly dividend of $1.35 per share, representing an annualized dividend of $5.40 and a yield of 1.9%.

Sei Investments Co. reduced its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 241,115 shares of the railroad operator's stock after selling 6,115 shares during the period. Sei Investments Co. owned 0.11% of Norfolk Southern worth $56,635,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its stake in shares of Norfolk Southern by 883.3% during the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock worth $42,000 after purchasing an additional 159 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of Norfolk Southern by 1.9% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator's stock worth $846,000 after purchasing an additional 65 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Norfolk Southern by 4.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator's stock worth $16,925,000 after purchasing an additional 2,782 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Norfolk Southern by 8.3% in the first quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator's stock worth $990,000 after acquiring an additional 321 shares during the last quarter. Finally, Brevan Howard Capital Management LP boosted its position in shares of Norfolk Southern by 472.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 43,054 shares of the railroad operator's stock worth $10,105,000 after acquiring an additional 35,531 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 0.6%

Shares of NSC traded down $1.64 during mid-day trading on Friday, reaching $280.86. 1,939,854 shares of the stock traded hands, compared to its average volume of 3,210,820. The firm has a market cap of $63.09 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 2.49 and a beta of 1.31. The stock has a fifty day simple moving average of $266.84 and a 200 day simple moving average of $246.68. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $288.11. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.24 by $0.05. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. Sell-side analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 1st will be paid 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 is Friday, August 1st. Norfolk Southern's payout ratio is 36.49%.

Analyst Ratings Changes

NSC has been the topic of several research analyst reports. UBS Group raised their target price on shares of Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. TD Cowen raised shares of Norfolk Southern from a "hold" rating to a "buy" rating and raised their target price for the stock from $263.00 to $323.00 in a research report on Monday, July 21st. Bank of America raised their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. BMO Capital Markets reissued a "market perform" rating and issued a $255.00 target price on shares of Norfolk Southern in a research report on Thursday, April 24th. Finally, Baird R W raised shares of Norfolk Southern to a "hold" rating in a research report on Tuesday, July 1st. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Norfolk Southern presently has an average rating of "Hold" and an average target price 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.