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

Resources Management Corp CT ADV lessened its position in Norfolk Southern Corporation (NYSE:NSC) by 96.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,470 shares of the railroad operator’s stock after selling 41,321 shares during the period. Resources Management Corp CT ADV’s holdings in Norfolk Southern were worth $424,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. JPL Wealth Management LLC acquired a new stake in shares of Norfolk Southern in the 3rd quarter worth $25,000. GoalVest Advisory LLC lifted its stake in shares of Norfolk Southern by 933.3% in the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 84 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Norfolk Southern by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 67 shares during the period. FNY Investment Advisers LLC lifted its stake in shares of Norfolk Southern by 669.2% in the 3rd quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock worth $30,000 after acquiring an additional 87 shares during the period. Finally, BNP Paribas acquired a new stake in shares of Norfolk Southern in the second quarter valued at about $26,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC opened at $310.15 on Tuesday. 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 $69.66 billion, a P/E ratio of 26.13, a PEG ratio of 5.79 and a beta of 1.27. The company has a 50-day moving average of $308.79 and a two-hundred day moving average of $300.35. Norfolk Southern Corporation has a 12-month low of $248.82 and a 12-month high of $326.00.

Norfolk Southern (NYSE:NSC) last announced its 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 analysts’ expectations of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.69 earnings per share. As a group, research analysts predict that Norfolk Southern Corporation will post 12.12 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Weiss Ratings cut shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Citigroup reiterated a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Sanford C. Bernstein reduced their price objective on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Finally, Evercore set a $325.00 price objective on shares of Norfolk Southern in a research note on Friday, April 24th. Six research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, Norfolk Southern 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.