Norfolk Southern Corporation $NSC Shares Sold by Resources Management Corp CT ADV

Resources Management Corp CT ADV cut its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 96.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,470 shares of the railroad operator’s stock after selling 41,321 shares during the quarter. Resources Management Corp CT ADV’s holdings in Norfolk Southern were worth $424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management acquired a new stake in Norfolk Southern during the third quarter worth approximately $24,033,000. Primecap Management Co. CA boosted its position in Norfolk Southern by 7.9% during the third quarter. Primecap Management Co. CA now owns 1,132,583 shares of the railroad operator’s stock worth $340,239,000 after acquiring an additional 82,500 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Norfolk Southern by 9.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after acquiring an additional 3,887 shares during the last quarter. NEOS Investment Management LLC boosted its position in Norfolk Southern by 47.0% during the third quarter. NEOS Investment Management LLC now owns 25,298 shares of the railroad operator’s stock worth $7,600,000 after acquiring an additional 8,090 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its position in Norfolk Southern by 11.7% during the third quarter. Elo Mutual Pension Insurance Co now owns 15,143 shares of the railroad operator’s stock worth $4,549,000 after acquiring an additional 1,587 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $310.15 on Tuesday. Norfolk Southern Corporation has a one year low of $248.82 and a one year high of $326.00. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The company has a 50 day moving average price of $308.79 and a 200 day moving average price of $300.35. The firm has a market capitalization of $69.66 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 5.79 and a beta of 1.27.

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 the consensus estimate of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm earned $2.69 earnings per share. Norfolk Southern’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts anticipate that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s payout ratio is currently 45.49%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NSC shares. Wolfe Research raised their target price on shares of Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 7th. TD Cowen upped their price target on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Royal Bank Of Canada upped their price target on shares of Norfolk Southern from $310.00 to $360.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Barclays upped their price target on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Norfolk Southern in a research report on Friday, April 24th. Six equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $322.71.

About Norfolk Southern

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.