Thoroughbred Financial Services LLC Has $1.26 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Thoroughbred Financial Services LLC decreased its holdings in Norfolk Southern Co. (NYSE:NSC) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,342 shares of the railroad operator’s stock after selling 183 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Norfolk Southern were worth $1,262,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. MCF Advisors LLC raised its stake in shares of Norfolk Southern by 4.2% in the 4th quarter. MCF Advisors LLC now owns 1,016 shares of the railroad operator’s stock valued at $240,000 after buying an additional 41 shares in the last quarter. Fiduciary Group LLC increased its position in shares of Norfolk Southern by 0.4% during the 4th quarter. Fiduciary Group LLC now owns 9,986 shares of the railroad operator’s stock worth $2,360,000 after purchasing an additional 41 shares in the last quarter. ZWJ Investment Counsel Inc. increased its position in shares of Norfolk Southern by 0.6% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 7,456 shares of the railroad operator’s stock worth $1,762,000 after purchasing an additional 43 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of Norfolk Southern by 2.6% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,679 shares of the railroad operator’s stock worth $397,000 after purchasing an additional 43 shares in the last quarter. Finally, Boltwood Capital Management increased its position in shares of Norfolk Southern by 2.1% during the 4th quarter. Boltwood Capital Management now owns 2,145 shares of the railroad operator’s stock worth $507,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.5 %

Shares of NYSE NSC opened at $230.25 on Tuesday. The firm has a market capitalization of $52.02 billion, a PE ratio of 37.08, a price-to-earnings-growth ratio of 3.23 and a beta of 1.30. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66. The firm’s 50-day moving average is $244.15 and its 200-day moving average is $236.99.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the business earned $3.32 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. Equities analysts expect that Norfolk Southern Co. will post 11.66 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, May 2nd. Norfolk Southern’s payout ratio is 86.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $270.00 target price on shares of Norfolk Southern in a research report on Wednesday, April 10th. Sanford C. Bernstein upgraded shares of Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 target price for the company in a research report on Monday, January 22nd. Jefferies Financial Group started coverage on shares of Norfolk Southern in a research report on Monday, April 8th. They set a “buy” rating and a $300.00 target price for the company. Finally, TD Cowen raised their price objective on shares of Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $261.78.

Insider Buying and Selling

In related news, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by insiders.

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.