International Assets Investment Management LLC Lowers Holdings in Norfolk Southern Co. (NYSE:NSC)

International Assets Investment Management LLC reduced its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 99.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,239 shares of the railroad operator's stock after selling 346,904 shares during the period. International Assets Investment Management LLC's holdings in Norfolk Southern were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in NSC. Principal Financial Group Inc. raised its position in shares of Norfolk Southern by 3.6% in the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator's stock worth $63,417,000 after acquiring an additional 8,844 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Norfolk Southern by 20.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator's stock worth $3,556,000 after purchasing an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Norfolk Southern by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator's stock worth $132,565,000 after purchasing an additional 3,621 shares during the period. Pathway Financial Advisers LLC boosted its position in Norfolk Southern by 25,181.8% during the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator's stock worth $222,025,000 after purchasing an additional 889,925 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new stake in Norfolk Southern in the second quarter valued at approximately $1,676,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 1.4 %

Norfolk Southern stock traded down $3.29 during midday trading on Friday, hitting $233.62. 1,022,512 shares of the stock were exchanged, compared to its average volume of 957,902. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $52.85 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 2.34 and a beta of 1.34. The stock's 50-day simple moving average is $253.27 and its 200 day simple moving average is $245.63. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.65 EPS. On average, equities analysts anticipate that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern's dividend payout ratio is presently 50.70%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Stephens reiterated an "equal weight" rating and set a $263.00 target price on shares of Norfolk Southern in a research report on Wednesday, October 23rd. Sanford C. Bernstein increased their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an "outperform" rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. UBS Group upped their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Susquehanna lowered their price objective on Norfolk Southern from $285.00 to $265.00 and set a "neutral" rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $275.68.

Insider Buying and Selling

In other news, Director Sameh Fahmy bought 350 shares of the business's stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company's stock.

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.