Norfolk Southern Co. (NYSE:NSC) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 15.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 191,307 shares of the railroad operator’s stock after selling 34,565 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Norfolk Southern worth $43,364,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. American National Bank grew its holdings in Norfolk Southern by 143.5% in the second quarter. American National Bank now owns 112 shares of the railroad operator’s stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Norfolk Southern in the second quarter valued at $26,000. Nemes Rush Group LLC acquired a new stake in Norfolk Southern in the second quarter valued at $30,000. Worth Asset Management LLC acquired a new stake in Norfolk Southern in the first quarter valued at $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Norfolk Southern in the first quarter valued at $42,000. Institutional investors and hedge funds own 72.37% of the company’s stock.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $211.04 on Friday. The stock’s 50-day moving average is $198.03 and its 200-day moving average is $211.23. The company has a market cap of $47.72 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 2.87 and a beta of 1.29. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 0.97. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $261.71.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, October 25th. The railroad operator reported $2.65 EPS for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.09). Norfolk Southern had a return on equity of 22.26% and a net margin of 16.96%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Equities analysts anticipate that Norfolk Southern Co. will post 11.81 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, November 3rd will be paid a $1.35 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.56%. Norfolk Southern’s dividend payout ratio (DPR) is currently 59.21%.

Analysts Set New Price Targets

NSC has been the topic of several recent research reports. Barclays reduced their price objective on Norfolk Southern from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 26th. Stifel Nicolaus reduced their price objective on Norfolk Southern from $260.00 to $253.00 and set a “buy” rating on the stock in a research report on Tuesday, October 3rd. BMO Capital Markets reduced their price objective on Norfolk Southern from $255.00 to $230.00 and set a “market perform” rating on the stock in a research report on Thursday, October 26th. Morgan Stanley reduced their price objective on Norfolk Southern from $174.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 26th. Finally, Susquehanna reduced their price objective on Norfolk Southern from $245.00 to $215.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 3rd. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.15.

About Norfolk Southern

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.