Bank of America Corp DE Sells 27,625 Shares of Norfolk Southern Corporation $NSC

Bank of America Corp DE trimmed its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 0.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,201,093 shares of the railroad operator’s stock after selling 27,625 shares during the quarter. Bank of America Corp DE’s holdings in Norfolk Southern were worth $918,714,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System bought a new stake in Norfolk Southern during the first quarter worth $3,272,000. O Shaughnessy Asset Management LLC lifted its stake in Norfolk Southern by 9.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock valued at $12,533,000 after acquiring an additional 3,887 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its position in shares of Norfolk Southern by 49.3% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 50,620 shares of the railroad operator’s stock valued at $14,615,000 after acquiring an additional 16,720 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Norfolk Southern by 8.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 138,194 shares of the railroad operator’s stock valued at $39,899,000 after acquiring an additional 10,910 shares during the period. Finally, Gabelli Funds LLC increased its stake in shares of Norfolk Southern by 54.4% during the 4th quarter. Gabelli Funds LLC now owns 51,112 shares of the railroad operator’s stock worth $14,757,000 after purchasing an additional 18,012 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NYSE:NSC opened at $335.89 on Friday. The company has a market cap of $75.45 billion, a P/E ratio of 28.66, a P/E/G ratio of 5.94 and a beta of 1.27. The firm’s fifty day moving average price is $319.64 and its two-hundred day moving average price is $307.90. Norfolk Southern Corporation has a one year low of $268.23 and a one year high of $358.60. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. Norfolk Southern’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.29 EPS. Equities analysts expect that Norfolk Southern Corporation will post 12.6 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern’s dividend payout ratio (DPR) is 46.08%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NSC shares. Rothschild & Co Redburn upped their target price on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. BMO Capital Markets lifted their price target on Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Royal Bank Of Canada upped their price objective on Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, Norfolk Southern currently has a consensus rating of “Hold” and a consensus price target of $348.00.

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.