Strs Ohio Sells 3,654 Shares of Norfolk Southern Co. (NYSE:NSC)

Strs Ohio lowered its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,984 shares of the railroad operator’s stock after selling 3,654 shares during the period. Strs Ohio’s holdings in Norfolk Southern were worth $15,833,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Worth Asset Management LLC bought a new stake in Norfolk Southern in the 1st quarter valued at $30,000. Exchange Traded Concepts LLC raised its stake in Norfolk Southern by 662.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after acquiring an additional 106 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in Norfolk Southern in the 4th quarter valued at $32,000. Provence Wealth Management Group bought a new stake in Norfolk Southern in the 3rd quarter valued at $28,000. Finally, Creative Financial Designs Inc. ADV raised its stake in Norfolk Southern by 317.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 146 shares of the railroad operator’s stock valued at $35,000 after acquiring an additional 111 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC stock opened at $242.90 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The company has a market cap of $59.80 billion, a P/E ratio of 30.29, a P/E/G ratio of 3.33 and a beta of 1.30. The business has a fifty day simple moving average of $253.73 and a 200 day simple moving average of $230.32.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Friday, January 26th. The railroad operator reported $2.83 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.04). The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.09 billion. Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. Norfolk Southern’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.42 earnings per share. On average, sell-side analysts forecast that Norfolk Southern Co. will post 12 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 2nd were paid a $1.35 dividend. The ex-dividend date was Thursday, February 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.22%. Norfolk Southern’s dividend payout ratio (DPR) is presently 67.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. TheStreet upgraded Norfolk Southern from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. The Goldman Sachs Group upped their price objective on Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a report on Thursday, March 21st. BMO Capital Markets decreased their price objective on Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating on the stock in a report on Monday, January 29th. JPMorgan Chase & Co. upped their price objective on Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, Stifel Nicolaus upped their price objective on Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $262.33.

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.