Lazard Asset Management LLC Sells 1,291,607 Shares of Norfolk Southern Co. (NYSE:NSC)

Lazard Asset Management LLC decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 22.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,414,968 shares of the railroad operator's stock after selling 1,291,607 shares during the period. Norfolk Southern makes up about 1.5% of Lazard Asset Management LLC's portfolio, making the stock its 8th largest position. Lazard Asset Management LLC owned approximately 1.95% of Norfolk Southern worth $1,036,191,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL raised its holdings in shares of Norfolk Southern by 16.9% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator's stock worth $71,000 after purchasing an additional 44 shares during the last quarter. CoreCap Advisors LLC increased its holdings in Norfolk Southern by 1.5% in the 4th quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock worth $727,000 after acquiring an additional 45 shares in the last quarter. Albert D Mason Inc. raised its position in shares of Norfolk Southern by 0.7% during the 4th quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator's stock worth $1,615,000 after purchasing an additional 46 shares during the last quarter. Signal Advisors Wealth LLC raised its holdings in shares of Norfolk Southern by 5.4% during the fourth quarter. Signal Advisors Wealth LLC now owns 960 shares of the railroad operator's stock valued at $225,000 after acquiring an additional 49 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Norfolk Southern by 2.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,507 shares of the railroad operator's stock valued at $588,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Up 1.2%

NYSE NSC traded up $2.98 on Thursday, hitting $244.16. 1,355,397 shares of the stock were exchanged, compared to its average volume of 1,209,484. The company has a market cap of $55.04 billion, a PE ratio of 21.12, a PEG ratio of 2.31 and a beta of 1.30. The company has a 50-day moving average price of $225.83 and a 200-day moving average price of $242.65. Norfolk Southern Co. has a fifty-two week low of $201.63 and a fifty-two week high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16.

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

Norfolk Southern Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Friday, May 2nd. Norfolk Southern's dividend payout ratio is currently 36.89%.

Wall Street Analyst Weigh In

Several analysts have issued reports on NSC shares. Royal Bank of Canada dropped their target price on Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. UBS Group reduced their price objective on shares of Norfolk Southern from $284.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company lowered their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Loop Capital lowered shares of Norfolk Southern from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They set a "buy" rating and a $293.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Norfolk Southern has an average rating of "Moderate Buy" and an average price target of $266.10.

About Norfolk Southern

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.