Norfolk Southern Co. (NYSE:NSC) Position Decreased by Wilbanks Smith & Thomas Asset Management LLC

Wilbanks Smith & Thomas Asset Management LLC trimmed its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 296,140 shares of the railroad operator's stock after selling 5,254 shares during the quarter. Norfolk Southern comprises approximately 2.1% of Wilbanks Smith & Thomas Asset Management LLC's portfolio, making the stock its 8th biggest position. Wilbanks Smith & Thomas Asset Management LLC owned approximately 0.13% of Norfolk Southern worth $70,002,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in shares of Norfolk Southern by 69.0% in the third quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator's stock valued at $536,319,000 after acquiring an additional 1,112,261 shares during the period. London Co. of Virginia boosted its holdings in shares of Norfolk Southern by 41.2% in the third quarter. London Co. of Virginia now owns 1,976,871 shares of the railroad operator's stock valued at $389,305,000 after acquiring an additional 577,171 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Norfolk Southern in the third quarter valued at approximately $103,223,000. International Assets Investment Management LLC boosted its holdings in shares of Norfolk Southern by 23,585.8% in the fourth quarter. International Assets Investment Management LLC now owns 351,261 shares of the railroad operator's stock valued at $83,031,000 after acquiring an additional 349,778 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in shares of Norfolk Southern by 3.2% in the third quarter. Lazard Asset Management LLC now owns 8,629,330 shares of the railroad operator's stock valued at $1,699,371,000 after acquiring an additional 264,031 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NSC shares. Morgan Stanley downgraded Norfolk Southern from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $185.00 to $175.00 in a report on Monday, January 29th. UBS Group decreased their price target on Norfolk Southern from $302.00 to $294.00 and set a "buy" rating for the company in a report on Thursday, April 25th. Susquehanna decreased their price target on Norfolk Southern from $270.00 to $265.00 and set a "neutral" rating for the company in a report on Wednesday, April 10th. JPMorgan Chase & Co. increased their price target on Norfolk Southern from $240.00 to $275.00 and gave the stock an "overweight" rating in a report on Tuesday, April 9th. Finally, Benchmark reaffirmed a "buy" rating and set a $277.00 price target on shares of Norfolk Southern in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $262.32.

Norfolk Southern Price Performance

NSC stock traded up $0.18 during trading on Wednesday, hitting $230.50. The stock had a trading volume of 1,618,503 shares, compared to its average volume of 1,323,812. The company's 50 day moving average price is $250.60 and its two-hundred day moving average price is $233.39. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The stock has a market cap of $52.07 billion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 3.33 and a beta of 1.30. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.09). The business had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The firm's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.32 EPS. On average, sell-side analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Thursday, May 2nd. Norfolk Southern's payout ratio is currently 86.96%.

Norfolk Southern Company 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.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Co. (NYSE:NSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.