Skylands Capital LLC decreased its stake in shares of Norfolk Southern Corporation (NYSE:NSC – Free Report) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,290 shares of the railroad operator’s stock after selling 2,590 shares during the quarter. Norfolk Southern comprises about 2.1% of Skylands Capital LLC’s portfolio, making the stock its 10th largest holding. Skylands Capital LLC’s holdings in Norfolk Southern were worth $15,868,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern during the third quarter valued at about $25,000. GoalVest Advisory LLC lifted its position in shares of Norfolk Southern by 933.3% in the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after buying an additional 84 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after buying an additional 67 shares during the last quarter. FNY Investment Advisers LLC boosted its stake in Norfolk Southern by 669.2% during the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock valued at $30,000 after buying an additional 87 shares during the last quarter. Finally, BNP Paribas purchased a new position in Norfolk Southern during the 2nd quarter valued at approximately $26,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.
Analyst Ratings Changes
A number of analysts have issued reports on the company. Royal Bank Of Canada reduced their price objective on Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a research note on Wednesday. UBS Group set a $327.00 price target on shares of Norfolk Southern in a research report on Thursday, May 7th. Susquehanna upped their price target on shares of Norfolk Southern from $330.00 to $337.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. 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. Finally, Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Six analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $320.35.
Norfolk Southern Stock Up 0.3%
Shares of NSC opened at $312.88 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The business has a fifty day moving average of $310.79 and a 200 day moving average of $301.10. The company has a market cap of $70.27 billion, a PE ratio of 26.36, a P/E/G ratio of 5.77 and a beta of 1.27. Norfolk Southern Corporation has a 52-week low of $254.18 and a 52-week high of $326.00.
Norfolk Southern (NYSE:NSC – Get Free Report) last announced its 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. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm posted $2.69 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts expect that Norfolk Southern Corporation will post 12.12 EPS for the current year.
Norfolk Southern Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio is presently 45.49%.
Norfolk Southern 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.
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