Kovitz Investment Group Partners LLC Trims Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Kovitz Investment Group Partners LLC cut its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 48.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,258 shares of the railroad operator's stock after selling 30,578 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Norfolk Southern were worth $7,571,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NSC. Financial Life Planners acquired a new position in shares of Norfolk Southern in the fourth quarter worth about $27,000. Keystone Financial Group Inc. acquired a new stake in Norfolk Southern during the fourth quarter worth about $27,000. Bank of Jackson Hole Trust purchased a new stake in Norfolk Southern in the fourth quarter valued at $27,000. Vision Financial Markets LLC purchased a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $28,000. Finally, Atlantic Private Wealth LLC purchased a new stake in shares of Norfolk Southern in the 4th quarter valued at $29,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Shares of NSC stock traded up $4.50 during midday trading on Friday, hitting $224.92. 468,484 shares of the company were exchanged, compared to its average volume of 1,237,200. The firm has a market capitalization of $50.71 billion, a P/E ratio of 19.46, a PEG ratio of 2.31 and a beta of 1.30. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. Norfolk Southern Co. has a 52 week low of $201.63 and a 52 week high of $277.60. The firm's 50 day moving average price is $228.38 and its two-hundred day moving average price is $244.22.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the company earned $2.49 earnings per share. The company's quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Friday, May 2nd. Norfolk Southern's dividend payout ratio is presently 36.89%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Jefferies Financial Group lowered their target price on shares of Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Barclays lowered their price target on Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Susquehanna reduced their target price on shares of Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Robert W. Baird increased their price objective on Norfolk Southern from $260.00 to $270.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Finally, Citigroup lowered their price target on Norfolk Southern from $298.00 to $259.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Norfolk Southern has a consensus rating of "Moderate Buy" and an average price target of $266.10.

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.