Norfolk Southern Corporation $NSC Stake Lowered by ProShare Advisors LLC

ProShare Advisors LLC trimmed its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 4.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 39,824 shares of the railroad operator’s stock after selling 1,846 shares during the quarter. ProShare Advisors LLC’s holdings in Norfolk Southern were worth $12,306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Investment Partners LTD. purchased a new stake in shares of Norfolk Southern during the 3rd quarter worth about $1,001,000. Aprio Wealth Management LLC grew its stake in shares of Norfolk Southern by 20.2% in the 3rd quarter. Aprio Wealth Management LLC now owns 1,436 shares of the railroad operator’s stock valued at $444,000 after buying an additional 241 shares in the last quarter. Avestar Capital LLC increased its holdings in Norfolk Southern by 3.8% in the third quarter. Avestar Capital LLC now owns 1,212 shares of the railroad operator’s stock worth $375,000 after buying an additional 44 shares during the last quarter. Modera Wealth Management LLC increased its holdings in Norfolk Southern by 0.9% in the third quarter. Modera Wealth Management LLC now owns 7,593 shares of the railroad operator’s stock worth $2,346,000 after buying an additional 66 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Norfolk Southern by 6,659.1% during the third quarter. International Assets Investment Management LLC now owns 122,339 shares of the railroad operator’s stock valued at $37,803,000 after acquiring an additional 120,529 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Down 1.3%

Shares of NSC stock opened at $341.19 on Wednesday. The stock’s 50 day simple moving average is $326.03 and its 200 day simple moving average is $315.44. Norfolk Southern Corporation has a twelve month low of $277.80 and a twelve month high of $358.60. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.90. The company has a market capitalization of $76.64 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 5.17 and a beta of 1.20.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.16. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the prior year, the business earned $3.30 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. As a group, research analysts predict that Norfolk Southern Corporation will post 12.80 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, November 6th. Norfolk Southern’s dividend payout ratio is 45.26%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NSC. Royal Bank Of Canada lifted their target price on shares of Norfolk Southern from $330.00 to $350.00 and gave the company a “sector perform” rating in a research note on Friday, October 23rd. Evercore increased their price target on shares of Norfolk Southern from $358.00 to $360.00 in a research note on Wednesday, September 30th. Stephens upgraded shares of Norfolk Southern to a “hold” rating in a report on Wednesday, July 8th. Susquehanna reduced their price objective on shares of Norfolk Southern from $386.00 to $350.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Finally, UBS Group reiterated a “neutral” rating on shares of Norfolk Southern in a report on Monday, October 26th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $348.81.

Norfolk Southern Profile

Norfolk Southern Corporation (NYSE:NSC) is a transportation company that operates one of the largest freight railroad networks in the eastern United States. Through its Norfolk Southern Railway subsidiary, the company provides rail transportation and related services across a broad territory spanning portions of the Midwest, South and East Coast, including access to major industrial centers, ports and distribution markets.

Norfolk Southern transports a diverse range of commodities, including intermodal freight, merchandise, automotive products, coal and other energy-related materials.