WASHINGTON TRUST Co Decreases Stock Position in Norfolk Southern Corporation (NYSE:NSC)

WASHINGTON TRUST Co decreased its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 81.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 473 shares of the railroad operator's stock after selling 2,047 shares during the period. WASHINGTON TRUST Co's holdings in Norfolk Southern were worth $112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL increased its position in shares of Norfolk Southern by 16.9% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator's stock valued at $71,000 after purchasing an additional 44 shares during the last quarter. CoreCap Advisors LLC raised its holdings in Norfolk Southern by 1.5% during the 4th quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock valued at $727,000 after buying an additional 45 shares during the last quarter. Canandaigua National Trust Co of Florida boosted its position in Norfolk Southern by 4.9% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock valued at $226,000 after buying an additional 45 shares during the period. Malaga Cove Capital LLC grew its holdings in Norfolk Southern by 2.1% in the 4th quarter. Malaga Cove Capital LLC now owns 2,451 shares of the railroad operator's stock worth $575,000 after acquiring an additional 50 shares during the last quarter. Finally, Salem Investment Counselors Inc. grew its stake in shares of Norfolk Southern by 1.2% in the first quarter. Salem Investment Counselors Inc. now owns 4,241 shares of the railroad operator's stock worth $1,004,000 after purchasing an additional 50 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Performance

NSC traded down $8.78 during midday trading on Thursday, reaching $253.22. The company had a trading volume of 928,378 shares, compared to its average volume of 1,304,507. The business has a 50-day moving average of $242.54 and a two-hundred day moving average of $239.47. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 1.15. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $277.60. The company has a market cap of $57.09 billion, a P/E ratio of 17.30, a P/E/G ratio of 2.06 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its 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 firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. Norfolk Southern's revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.49 EPS. As a group, equities research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.13%. Norfolk Southern's payout ratio is 36.89%.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of recent analyst reports. Royal Bank Of Canada cut their price objective 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. UBS Group increased their price target on shares of Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Deutsche Bank Aktiengesellschaft assumed coverage on Norfolk Southern in a research report on Friday, March 7th. They set a "buy" rating and a $293.00 price objective on the stock. Wells Fargo & Company decreased their target price on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Finally, Bank of America lifted their price target on Norfolk Southern from $280.00 to $290.00 and gave the company a "buy" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $267.48.

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.