Norfolk Southern Corporation $NSC Position Lowered by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in Norfolk Southern Corporation (NYSE:NSC) by 2.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 361,908 shares of the railroad operator’s stock after selling 8,088 shares during the period. PNC Financial Services Group Inc. owned 0.16% of Norfolk Southern worth $104,490,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPL Wealth Management LLC bought a new stake in shares of Norfolk Southern in the 3rd quarter valued at approximately $25,000. Westside Investment Management Inc. raised its position in shares of Norfolk Southern by 207.1% during the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after acquiring an additional 58 shares in the last quarter. BNP Paribas bought a new position in Norfolk Southern during the second quarter worth $26,000. GoalVest Advisory LLC boosted its holdings in 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 purchasing an additional 84 shares during the period. Finally, MMA Asset Management LLC acquired a new position in Norfolk Southern in the third quarter worth $28,000. 75.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NSC has been the topic of a number of research reports. Susquehanna increased their target price on shares of Norfolk Southern from $305.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. decreased their price target on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Citigroup reaffirmed a “neutral” rating on shares of Norfolk Southern in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, TD Cowen raised their target price on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. According to MarketBeat.com, Norfolk Southern currently has a consensus rating of “Hold” and an average target price of $319.83.

Norfolk Southern Stock Down 2.1%

NSC opened at $311.47 on Thursday. The stock’s 50 day moving average price is $300.05 and its 200 day moving average price is $296.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The stock has a market cap of $69.95 billion, a P/E ratio of 26.24, a P/E/G ratio of 5.88 and a beta of 1.30. Norfolk Southern Corporation has a 12 month low of $236.37 and a 12 month high of $323.37.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results 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. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.69 EPS. As a group, research analysts predict that Norfolk Southern Corporation will post 12.11 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio is currently 45.49%.

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.