Kornitzer Capital Management Inc. KS Sells 1,937 Shares of Norfolk Southern Corporation $NSC

Kornitzer Capital Management Inc. KS lowered its stake in Norfolk Southern Corporation (NYSE:NSC) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,413 shares of the railroad operator’s stock after selling 1,937 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Norfolk Southern were worth $7,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NSC. ORG Partners LLC raised its stake in shares of Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after buying an additional 36 shares during the period. JPL Wealth Management LLC bought a new position in shares of Norfolk Southern in the third quarter worth about $25,000. Westside Investment Management Inc. raised its stake in shares of Norfolk Southern by 207.1% in the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after buying an additional 58 shares during the period. BNP Paribas bought a new position in shares of Norfolk Southern in the second quarter worth about $26,000. Finally, GoalVest Advisory LLC raised its stake in shares of Norfolk Southern by 933.3% in the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after buying an additional 84 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $316.26 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. Norfolk Southern Corporation has a 1 year low of $218.05 and a 1 year high of $323.37. The stock’s 50 day simple moving average is $299.64 and its two-hundred day simple moving average is $294.38. The company has a market cap of $71.03 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 5.84 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the company posted $2.69 EPS. The company’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern’s payout ratio is presently 45.49%.

Analyst Upgrades and Downgrades

NSC has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Citigroup reissued a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Sanford C. Bernstein decreased their target price on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. TD Cowen lifted their target price on Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $320.67.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.