Radnor Capital Management LLC cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 17.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,216 shares of the railroad operator's stock after selling 1,075 shares during the period. Radnor Capital Management LLC's holdings in Norfolk Southern were worth $1,224,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC increased its holdings in Norfolk Southern by 4,336.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,925 shares of the railroad operator's stock worth $1,056,000 after purchasing an additional 4,814 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Norfolk Southern by 16.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 601,343 shares of the railroad operator's stock valued at $129,102,000 after acquiring an additional 86,726 shares in the last quarter. Citizens Financial Group Inc. RI lifted its stake in Norfolk Southern by 7.4% in the second quarter. Citizens Financial Group Inc. RI now owns 4,608 shares of the railroad operator's stock worth $989,000 after acquiring an additional 317 shares during the last quarter. Primecap Management Co. CA grew its holdings in Norfolk Southern by 5.7% during the 2nd quarter. Primecap Management Co. CA now owns 464,800 shares of the railroad operator's stock worth $99,788,000 after acquiring an additional 25,200 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at $1,011,000. Institutional investors and hedge funds own 75.10% of the company's stock.
Norfolk Southern Stock Performance
NYSE:NSC traded up $1.31 during midday trading on Wednesday, reaching $240.55. The stock had a trading volume of 940,807 shares, compared to its average volume of 954,667. The stock has a market cap of $54.42 billion, a P/E ratio of 22.59, a P/E/G ratio of 2.34 and a beta of 1.34. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The firm has a fifty day simple moving average of $252.80 and a two-hundred day simple moving average of $246.23.
Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the business posted $2.65 earnings per share. The business's revenue was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current year.
Norfolk Southern Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors 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 yield of 2.24%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern's dividend payout ratio is presently 50.70%.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. Royal Bank of Canada increased their target price on Norfolk Southern from $272.00 to $282.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Loop Capital increased their price objective on Norfolk Southern from $285.00 to $287.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. UBS Group boosted their target price on Norfolk Southern from $289.00 to $309.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Benchmark increased their price target on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Stephens restated an "equal weight" rating and set a $263.00 price objective on shares of Norfolk Southern in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Norfolk Southern currently has a consensus rating of "Moderate Buy" and an average target price of $275.68.
View Our Latest Stock Analysis on NSC
Insiders Place Their Bets
In other news, Director Sameh Fahmy bought 350 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, the director now 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.
About Norfolk Southern
(
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.
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