Norfolk Southern Corporation $NSC Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. decreased its position in Norfolk Southern Corporation (NYSE:NSC) by 19.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,083 shares of the railroad operator’s stock after selling 259 shares during the period. Freedom Investment Management Inc.’s holdings in Norfolk Southern were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NSC. Price T Rowe Associates Inc. MD lifted its position in shares of Norfolk Southern by 31.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock valued at $2,680,910,000 after acquiring an additional 2,710,930 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Norfolk Southern in the second quarter valued at $321,393,000. Adage Capital Partners GP L.L.C. lifted its position in shares of Norfolk Southern by 341.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator’s stock valued at $187,100,000 after acquiring an additional 611,198 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Norfolk Southern in the first quarter valued at $122,256,000. Finally, Phoenix Financial Ltd. purchased a new stake in shares of Norfolk Southern in the first quarter valued at $110,209,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $281.56 on Tuesday. The firm has a market capitalization of $63.18 billion, a PE ratio of 21.48, a P/E/G ratio of 2.53 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78. The business has a 50-day moving average of $285.81 and a two-hundred day moving average of $263.28. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.01). The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The business’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.25 earnings per share. As a group, research analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, November 7th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, November 7th. This represents a $5.40 annualized dividend and a yield of 1.9%. Norfolk Southern’s dividend payout ratio is currently 41.19%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NSC. Baird R W upgraded Norfolk Southern to a “hold” rating in a research report on Tuesday, July 1st. Bank of America increased their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Weiss Ratings downgraded Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday. Sanford C. Bernstein increased their target price on Norfolk Southern from $295.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $300.00 target price on shares of Norfolk Southern in a research report on Friday, July 25th. Seven analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $299.70.

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.