W.G. Shaheen & Associates DBA Whitney & Co Sells 8,480 Shares of Norfolk Southern Corporation $NSC

Key Points

• W.G. Shaheen & Associates DBA Whitney & Co trimmed its Norfolk Southern stake by 35.1%, selling 8,480 shares and leaving it with 15,663 shares valued at about $4.52 million.
• Norfolk Southern reported Q results with EPS of $2.65 beating the $2.49 consensus while revenue missed at $3.0 billion versus a $3.13 billion estimate and was up just 0.2% year‑over‑year.
• The company announced a quarterly dividend of $1.35 (annualized $5.40, yield ~1.7%, payable May 20, ex‑dividend May 8), and analysts largely rate the stock a "Hold" with an average price target around $320.28 amid several target increases.

W.G. Shaheen & Associates DBA Whitney & Co trimmed its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 35.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,663 shares of the railroad operator's stock after selling 8,480 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co's holdings in Norfolk Southern were worth $4,522,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. ORG Partners LLC grew its stake in Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator's stock worth $25,000 after buying an additional 36 shares during the last quarter. JPL Wealth Management LLC purchased a new position in Norfolk Southern during the 3rd quarter worth $25,000. BNP Paribas purchased a new position in Norfolk Southern during the 2nd quarter worth $26,000. Westside Investment Management Inc. grew its stake in Norfolk Southern by 207.1% during the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator's stock worth $26,000 after buying an additional 58 shares during the last quarter. Finally, GoalVest Advisory LLC grew its stake in Norfolk Southern by 933.3% during the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator's stock worth $27,000 after buying an additional 84 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Down 1.4%

Norfolk Southern stock opened at $312.28 on Thursday. Norfolk Southern Corporation has a fifty-two week low of $218.05 and a fifty-two week high of $323.37. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The company has a market cap of $70.14 billion, a PE ratio of 26.31, a PEG ratio of 5.89 and a beta of 1.31. The business's 50-day simple moving average is $299.61 and its two-hundred day simple moving average is $294.20.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the business earned $2.69 earnings per share. The company's revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Norfolk Southern Corporation will post 12.11 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be paid a $1.35 dividend. The ex-dividend date is Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern's dividend payout ratio is presently 45.49%.

Analyst Ratings Changes

Several research analysts recently weighed in on NSC shares. Royal Bank Of Canada boosted their target price on Norfolk Southern from $310.00 to $360.00 and gave the stock a "sector perform" rating in a research note on Friday, April 24th. Robert W. Baird boosted their target price on Norfolk Southern from $315.00 to $330.00 and gave the stock a "neutral" rating in a research note on Tuesday. Wall Street Zen upgraded Norfolk Southern to a "sell" rating in a research note on Saturday, April 4th. Wolfe Research boosted their price target on Norfolk Southern from $350.00 to $355.00 and gave the company an "outperform" rating in a research note on Tuesday, April 7th. Finally, Citigroup reiterated a "neutral" rating on shares of Norfolk Southern in a research note on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company's stock. According to MarketBeat, Norfolk Southern currently has an average rating of "Hold" and an average price target of $320.28.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.

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