Bruce G. Allen Investments LLC Sells 49 Shares of Norfolk Southern Co. (NYSE:NSC)

Bruce G. Allen Investments LLC decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 12.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 334 shares of the railroad operator’s stock after selling 49 shares during the period. Bruce G. Allen Investments LLC’s holdings in Norfolk Southern were worth $79,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of NSC. Strategic Investment Solutions Inc. IL boosted its position in Norfolk Southern by 16.9% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator’s stock valued at $71,000 after acquiring an additional 44 shares in the last quarter. CoreCap Advisors LLC lifted its stake in shares of Norfolk Southern by 1.5% in the 4th quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator’s stock valued at $727,000 after purchasing an additional 45 shares during the period. Leavell Investment Management Inc. boosted its position in shares of Norfolk Southern by 0.9% during the fourth quarter. Leavell Investment Management Inc. now owns 5,816 shares of the railroad operator’s stock valued at $1,365,000 after purchasing an additional 50 shares in the last quarter. Shayne & Jacobs LLC raised its holdings in Norfolk Southern by 1.5% in the fourth quarter. Shayne & Jacobs LLC now owns 3,327 shares of the railroad operator’s stock worth $781,000 after purchasing an additional 50 shares in the last quarter. Finally, Malaga Cove Capital LLC grew its position in shares of Norfolk Southern by 2.1% in the 4th quarter. Malaga Cove Capital LLC now owns 2,451 shares of the railroad operator’s stock worth $575,000 after buying an additional 50 shares during the period. Institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

NSC has been the subject of a number of recent research reports. Stifel Nicolaus lowered their price target on shares of Norfolk Southern from $265.00 to $247.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Citigroup decreased their target price on shares of Norfolk Southern from $298.00 to $259.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Jefferies Financial Group lowered their target price on shares of Norfolk Southern from $285.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company cut their price target on Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Finally, Bank of America raised their price objective on Norfolk Southern from $267.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $267.24.

Norfolk Southern Price Performance

NYSE NSC opened at $250.89 on Monday. Norfolk Southern Co. has a one year low of $201.63 and a one year high of $277.60. The stock has a 50-day moving average of $229.42 and a 200 day moving average of $240.44. 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 has a market capitalization of $56.56 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 2.31 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.03). The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.49 earnings per share. On average, sell-side analysts forecast that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.15%. Norfolk Southern’s dividend payout ratio is presently 36.89%.

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.