Parsons Capital Management Inc. RI Sells 115 Shares of Norfolk Southern Co. (NYSE:NSC)

Parsons Capital Management Inc. RI trimmed its stake in Norfolk Southern Co. (NYSE:NSC) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,076 shares of the railroad operator’s stock after selling 115 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Norfolk Southern were worth $492,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Norfolk Southern in the fourth quarter worth about $547,575,000. GAMMA Investing LLC raised its holdings in Norfolk Southern by 25,555.7% in the 1st quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator’s stock worth $234,433,000 after acquiring an additional 985,938 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Norfolk Southern by 11.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator’s stock valued at $2,020,318,000 after acquiring an additional 918,559 shares in the last quarter. Boston Partners boosted its stake in Norfolk Southern by 16.9% during the 4th quarter. Boston Partners now owns 4,020,392 shares of the railroad operator’s stock valued at $945,385,000 after purchasing an additional 580,293 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Norfolk Southern by 293.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator’s stock valued at $157,643,000 after purchasing an additional 501,053 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 0.6%

Shares of NSC stock opened at $251.39 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The stock has a fifty day simple moving average of $231.12 and a two-hundred day simple moving average of $240.48. The firm has a market capitalization of $56.67 billion, a PE ratio of 21.75, a PEG ratio of 2.31 and a beta of 1.32. Norfolk Southern Co. has a 52-week low of $201.63 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share 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 the consensus estimate of $3.01 billion. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.49 earnings per share. On average, analysts predict that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.15%. Norfolk Southern’s dividend payout ratio (DPR) is 36.89%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Susquehanna lowered their price target on Norfolk Southern from $260.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus lowered their target price on shares of Norfolk Southern from $265.00 to $247.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company dropped their price target on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. UBS Group boosted their price objective on shares of Norfolk Southern from $275.00 to $279.00 and gave the company a “buy” rating in a report on Friday, May 30th. Finally, Citigroup dropped their target price 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus target price of $267.24.

Norfolk Southern Company 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.