Strs Ohio Sells 3,654 Shares of Norfolk Southern Co. (NYSE:NSC)

Strs Ohio decreased its position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,984 shares of the railroad operator's stock after selling 3,654 shares during the quarter. Strs Ohio's holdings in Norfolk Southern were worth $15,833,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Grove Bank & Trust lifted its holdings in Norfolk Southern by 10.1% during the 4th quarter. Grove Bank & Trust now owns 612 shares of the railroad operator's stock worth $145,000 after buying an additional 56 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Norfolk Southern during the 4th quarter worth $227,000. Carnegie Capital Asset Management LLC lifted its holdings in Norfolk Southern by 2.9% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 11,686 shares of the railroad operator's stock worth $2,762,000 after buying an additional 332 shares in the last quarter. River Street Advisors LLC lifted its holdings in Norfolk Southern by 3.2% during the 4th quarter. River Street Advisors LLC now owns 3,591 shares of the railroad operator's stock worth $849,000 after buying an additional 113 shares in the last quarter. Finally, Simplicity Wealth LLC acquired a new position in Norfolk Southern during the 4th quarter worth $462,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Down 1.5 %

NYSE NSC traded down $3.57 on Wednesday, reaching $239.34. The company had a trading volume of 1,011,058 shares, compared to its average volume of 1,280,049. The firm has a market capitalization of $58.93 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 3.33 and a beta of 1.30. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.14 and a current ratio of 1.24. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The company's fifty day moving average is $253.73 and its 200-day moving average is $230.32.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share for the quarter, missing analysts' consensus estimates of $2.87 by ($0.04). Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the company posted $3.42 earnings per share. Norfolk Southern's revenue for the quarter was down 4.2% on a year-over-year basis. On average, research analysts forecast that Norfolk Southern Co. will post 12 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.26%. Norfolk Southern's dividend payout ratio is 67.33%.

Analysts Set New Price Targets

Several analysts have commented on NSC shares. TheStreet upgraded shares of Norfolk Southern from a "c+" rating to a "b-" rating in a research report on Thursday, December 21st. Barclays upgraded shares of Norfolk Southern from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $255.00 to $305.00 in a research report on Wednesday, February 21st. Morgan Stanley cut shares of Norfolk Southern from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $185.00 to $175.00 in a research report on Monday, January 29th. Jefferies Financial Group began coverage on shares of Norfolk Southern in a research report on Monday, April 8th. They set a "buy" rating and a $300.00 target price for the company. Finally, Susquehanna lowered their price objective on shares of Norfolk Southern from $270.00 to $265.00 and set a "neutral" rating for the company in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Norfolk Southern presently has an average rating of "Moderate Buy" and an average price target of $262.33.

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.