Norfolk Southern Co. (NYSE:NSC) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 424,048 shares of the railroad operator's stock after selling 17,119 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.19% of Norfolk Southern worth $99,524,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Morse Asset Management Inc acquired a new position in Norfolk Southern during the third quarter worth $30,000. Wealthquest Corp acquired a new position in shares of Norfolk Southern during the 3rd quarter valued at about $216,000. Anchor Investment Management LLC grew its holdings in shares of Norfolk Southern by 1.2% in the third quarter. Anchor Investment Management LLC now owns 14,265 shares of the railroad operator's stock valued at $3,545,000 after purchasing an additional 170 shares during the period. World Investment Advisors LLC increased its position in Norfolk Southern by 10.7% during the third quarter. World Investment Advisors LLC now owns 11,226 shares of the railroad operator's stock worth $2,790,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its stake in Norfolk Southern by 23.2% during the third quarter. Wilmington Savings Fund Society FSB now owns 56,256 shares of the railroad operator's stock worth $13,980,000 after purchasing an additional 10,593 shares during the period. Institutional investors and hedge funds own 75.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NSC shares. UBS Group dropped their price target on shares of Norfolk Southern from $284.00 to $275.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Barclays cut their target price on Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Stephens upped their price target on Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Robert W. Baird raised their price objective on Norfolk Southern from $260.00 to $270.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Finally, Evercore ISI decreased their target price on shares of Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Norfolk Southern presently has an average rating of "Moderate Buy" and a consensus target price of $266.10.

Norfolk Southern Stock Up 2.0 %

Shares of NSC traded up $4.32 during midday trading on Friday, hitting $224.74. The company had a trading volume of 558,212 shares, compared to its average volume of 1,237,565. Norfolk Southern Co. has a 1 year low of $201.63 and a 1 year high of $277.60. The firm has a market capitalization of $50.67 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.31 and a beta of 1.30. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The company's 50-day simple moving average is $228.38 and its 200-day simple moving average is $244.22.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The firm 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 firm earned $2.49 EPS. The firm's revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts expect that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, May 2nd. Norfolk Southern's dividend payout ratio (DPR) is presently 36.89%.

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.