Dana Investment Advisors Inc. Sells 13,762 Shares of Norfolk Southern Corporation $NSC

Dana Investment Advisors Inc. lowered its position in Norfolk Southern Corporation (NYSE:NSC) by 60.7% in the 4th quarter, Holdings Channel reports. The fund owned 8,896 shares of the railroad operator’s stock after selling 13,762 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Norfolk Southern were worth $2,568,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cullen Capital Management LLC grew its stake in shares of Norfolk Southern by 31.8% during the third quarter. Cullen Capital Management LLC now owns 121,351 shares of the railroad operator’s stock worth $36,455,000 after acquiring an additional 29,264 shares during the last quarter. Markel Group Inc. grew its stake in shares of Norfolk Southern by 8.5% during the third quarter. Markel Group Inc. now owns 256,500 shares of the railroad operator’s stock worth $77,055,000 after acquiring an additional 20,000 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Norfolk Southern during the third quarter worth about $24,033,000. AlphaQuest LLC purchased a new stake in shares of Norfolk Southern during the third quarter worth about $2,165,000. Finally, Principal Financial Group Inc. grew its stake in shares of Norfolk Southern by 0.8% during the third quarter. Principal Financial Group Inc. now owns 250,186 shares of the railroad operator’s stock worth $75,158,000 after acquiring an additional 2,049 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.3%

Shares of NSC stock opened at $316.85 on Monday. The stock has a 50 day moving average of $299.40 and a 200 day moving average of $296.12. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a market cap of $71.16 billion, a P/E ratio of 26.69, a P/E/G ratio of 5.84 and a beta of 1.30. Norfolk Southern Corporation has a twelve month low of $236.37 and a twelve 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 for the quarter, beating the consensus estimate of $2.49 by $0.16. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.Norfolk Southern’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the business earned $2.69 earnings per share. As a group, sell-side analysts expect that Norfolk Southern Corporation will post 12.11 EPS for the current year.

Norfolk Southern Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Evercore set a $325.00 price target on shares of Norfolk Southern in a research note on Friday, April 24th. Robert W. Baird upped their price target on shares of Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. BMO Capital Markets raised their target price on Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. Finally, Citigroup restated a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Six equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $319.83.

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.