Great Lakes Advisors LLC Sells 1,404 Shares of Norfolk Southern Corp. (NYSE:NSC)

Great Lakes Advisors LLC trimmed its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 23.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,703 shares of the railroad operator’s stock after selling 1,404 shares during the period. Great Lakes Advisors LLC’s holdings in Norfolk Southern were worth $845,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Norfolk Southern by 159.5% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 192 shares of the railroad operator’s stock valued at $34,000 after acquiring an additional 118 shares during the period. Homrich & Berg lifted its stake in shares of Norfolk Southern by 6.5% in the third quarter. Homrich & Berg now owns 5,811 shares of the railroad operator’s stock valued at $1,044,000 after buying an additional 354 shares during the period. AE Wealth Management LLC lifted its stake in shares of Norfolk Southern by 4.2% in the third quarter. AE Wealth Management LLC now owns 7,790 shares of the railroad operator’s stock valued at $1,400,000 after buying an additional 317 shares during the period. Welch Group LLC lifted its stake in shares of Norfolk Southern by 55.2% in the third quarter. Welch Group LLC now owns 2,642 shares of the railroad operator’s stock valued at $475,000 after buying an additional 940 shares during the period. Finally, Doyle Wealth Management lifted its stake in shares of Norfolk Southern by 13.4% in the third quarter. Doyle Wealth Management now owns 1,571 shares of the railroad operator’s stock valued at $282,000 after buying an additional 186 shares during the period. Institutional investors own 72.97% of the company’s stock.

NSC has been the subject of several research reports. Bank of America cut shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $198.00 target price for the company. in a research note on Wednesday, October 23rd. Credit Suisse Group increased their target price on shares of Norfolk Southern from $198.00 to $199.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. UBS Group reduced their target price on shares of Norfolk Southern from $230.00 to $216.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. ValuEngine upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Barclays reduced their target price on shares of Norfolk Southern from $200.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $204.29.

Shares of NSC opened at $191.07 on Friday. The stock has a market cap of $49.79 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.91 and a beta of 1.37. The company has a quick ratio of 0.63, a current ratio of 0.73 and a debt-to-equity ratio of 0.73. Norfolk Southern Corp. has a 12 month low of $138.65 and a 12 month high of $211.46. The company has a 50-day moving average price of $183.34 and a two-hundred day moving average price of $188.92.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, October 23rd. The railroad operator reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.08). The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.86 billion. Norfolk Southern had a return on equity of 18.22% and a net margin of 23.98%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.52 EPS. Equities research analysts expect that Norfolk Southern Corp. will post 10.23 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, October 31st. Norfolk Southern’s dividend payout ratio is 39.54%.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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