Norfolk Southern Co. (NYSE:NSC) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 413,260 shares of the railroad operator's stock after selling 18,963 shares during the quarter. California Public Employees Retirement System owned 0.18% of Norfolk Southern worth $97,686,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Impact Partnership Wealth LLC purchased a new stake in Norfolk Southern during the 3rd quarter worth approximately $68,000. Meridian Wealth Management LLC increased its holdings in Norfolk Southern by 93.8% during the 3rd quarter. Meridian Wealth Management LLC now owns 3,510 shares of the railroad operator's stock worth $691,000 after purchasing an additional 1,699 shares during the last quarter. CX Institutional increased its holdings in Norfolk Southern by 476.2% during the 3rd quarter. CX Institutional now owns 10,688 shares of the railroad operator's stock worth $2,105,000 after purchasing an additional 8,833 shares during the last quarter. SS&H Financial Advisors Inc. purchased a new stake in Norfolk Southern during the 3rd quarter worth approximately $1,127,000. Finally, UMB Bank n.a. increased its holdings in Norfolk Southern by 1.3% during the 3rd quarter. UMB Bank n.a. now owns 12,585 shares of the railroad operator's stock worth $2,478,000 after purchasing an additional 157 shares during the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 1.9 %

Shares of Norfolk Southern stock traded up $4.47 on Thursday, reaching $240.69. 1,854,411 shares of the company were exchanged, compared to its average volume of 1,287,560. The stock has a fifty day moving average price of $252.07 and a 200-day moving average price of $232.18. The firm has a market capitalization of $59.26 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 3.34 and a beta of 1.30. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.58 by ($0.09). Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the firm earned $3.32 earnings per share. The firm's revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts expect that Norfolk Southern Co. will post 11.93 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be paid a $1.35 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.24%. Norfolk Southern's dividend payout ratio (DPR) is currently 67.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NSC. Royal Bank of Canada reiterated a "sector perform" rating and issued a $270.00 target price on shares of Norfolk Southern in a research report on Wednesday, April 10th. Susquehanna decreased their target price on Norfolk Southern from $270.00 to $265.00 and set a "neutral" rating for the company in a research report on Wednesday, April 10th. Barclays upgraded Norfolk Southern from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $255.00 to $305.00 in a research report on Wednesday, February 21st. Citigroup boosted their price objective on Norfolk Southern from $253.00 to $286.00 and gave the company a "buy" rating in a research report on Thursday, February 8th. Finally, BMO Capital Markets reduced their price objective on Norfolk Southern from $250.00 to $245.00 and set a "market perform" rating for the company in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern presently has an average rating of "Moderate Buy" and a consensus price target of $262.32.

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.