PFG Investments LLC Reduces Holdings in Norfolk Southern Corporation (NYSE:NSC)

PFG Investments LLC decreased its position in Norfolk Southern Corporation (NYSE:NSC) by 11.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,758 shares of the railroad operator’s stock after selling 226 shares during the period. PFG Investments LLC’s holdings in Norfolk Southern were worth $416,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL boosted its holdings in Norfolk Southern by 16.9% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator’s stock worth $71,000 after buying an additional 44 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Norfolk Southern by 1.5% in the fourth quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator’s stock valued at $727,000 after purchasing an additional 45 shares in the last quarter. Shayne & Jacobs LLC lifted its holdings in shares of Norfolk Southern by 1.5% in the fourth quarter. Shayne & Jacobs LLC now owns 3,327 shares of the railroad operator’s stock valued at $781,000 after purchasing an additional 50 shares in the last quarter. Malaga Cove Capital LLC lifted its holdings in shares of Norfolk Southern by 2.1% in the fourth quarter. Malaga Cove Capital LLC now owns 2,451 shares of the railroad operator’s stock valued at $575,000 after purchasing an additional 50 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of Norfolk Southern by 1.2% in the first quarter. Salem Investment Counselors Inc. now owns 4,241 shares of the railroad operator’s stock valued at $1,004,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup reduced their price target on shares of Norfolk Southern from $298.00 to $259.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $255.00 price target on shares of Norfolk Southern in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Norfolk Southern in a report on Friday, March 7th. They issued a “buy” rating and a $293.00 price target on the stock. Barclays cut their price objective on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Finally, Susquehanna boosted their price objective on shares of Norfolk Southern from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $267.71.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $257.68 on Wednesday. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $277.60. The firm has a fifty day moving average of $237.88 and a 200-day moving average of $239.10. The firm has a market capitalization of $58.09 billion, a P/E ratio of 17.60, a PEG ratio of 2.02 and a beta of 1.32. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 1.15.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.03). The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.01 billion. Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. Norfolk Southern’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company earned $2.49 EPS. As a group, analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were paid a $1.35 dividend. The ex-dividend date was Friday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.10%. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.89%.

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.