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Paloma Partners Management Co Cuts Holdings in Norfolk Southern Co. (NYSE:NSC)

Norfolk Southern logo with Transportation background

Paloma Partners Management Co trimmed its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 49.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,737 shares of the railroad operator's stock after selling 4,663 shares during the quarter. Paloma Partners Management Co's holdings in Norfolk Southern were worth $1,120,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. MCF Advisors LLC increased its holdings in Norfolk Southern by 4.2% during the fourth quarter. MCF Advisors LLC now owns 1,016 shares of the railroad operator's stock valued at $240,000 after buying an additional 41 shares during the period. Fiduciary Group LLC boosted its stake in Norfolk Southern by 0.4% in the fourth quarter. Fiduciary Group LLC now owns 9,986 shares of the railroad operator's stock valued at $2,360,000 after acquiring an additional 41 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its stake in shares of Norfolk Southern by 0.6% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 7,456 shares of the railroad operator's stock worth $1,762,000 after buying an additional 43 shares during the period. Wealthcare Advisory Partners LLC lifted its stake in shares of Norfolk Southern by 2.6% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,679 shares of the railroad operator's stock worth $397,000 after buying an additional 43 shares during the period. Finally, Boltwood Capital Management lifted its stake in shares of Norfolk Southern by 2.1% during the fourth quarter. Boltwood Capital Management now owns 2,145 shares of the railroad operator's stock worth $507,000 after buying an additional 45 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CMO Claude E. Elkins sold 8,329 shares of the company's stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Claude Mongeau acquired 5,650 shares of the company's stock in a transaction on Wednesday, May 29th. The shares were bought at an average cost of $221.00 per share, with a total value of $1,248,650.00. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $4,420,000. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Norfolk Southern Price Performance

Shares of NSC stock traded down $2.29 on Thursday, reaching $221.84. 841,049 shares of the company were exchanged, compared to its average volume of 1,322,482. The company has a market cap of $50.12 billion, a price-to-earnings ratio of 35.72, a P/E/G ratio of 2.12 and a beta of 1.31. The business has a 50-day moving average price of $233.19 and a 200 day moving average price of $239.03. 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 Co. has a 1 year low of $183.09 and a 1 year high of $263.66.


Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing analysts' consensus estimates of $2.58 by ($0.09). The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The business's revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.32 earnings per share. Equities research analysts forecast that Norfolk Southern Co. will post 11.88 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.43%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern's payout ratio is currently 86.96%.

Analyst Ratings Changes

NSC has been the subject of several research reports. Barclays lowered their price objective on shares of Norfolk Southern from $305.00 to $275.00 and set an "overweight" rating for the company in a research note on Monday, May 13th. TD Cowen raised their target price on shares of Norfolk Southern from $236.00 to $253.00 and gave the stock a "market perform" rating in a report on Thursday, March 21st. JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $240.00 to $275.00 and gave the stock an "overweight" rating in a report on Tuesday, April 9th. Susquehanna reduced their target price on shares of Norfolk Southern from $270.00 to $265.00 and set a "neutral" rating for the company in a report on Wednesday, April 10th. Finally, Royal Bank of Canada raised shares of Norfolk Southern from a "sector perform" rating to an "outperform" rating and set a $270.00 target price for the company in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $264.56.

Read Our Latest Report on NSC

Norfolk Southern Profile

(Free Report)

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.

Read More

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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.

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