Sequoia Financial Advisors LLC Sells 298 Shares of Norfolk Southern Co. (NYSE:NSC)

Sequoia Financial Advisors LLC lessened its stake in Norfolk Southern Co. (NYSE:NSCFree Report) by 10.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,676 shares of the railroad operator’s stock after selling 298 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Norfolk Southern were worth $527,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Norfolk Southern by 1.0% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,221 shares of the railroad operator’s stock worth $957,000 after purchasing an additional 43 shares during the last quarter. Northwest Investment Counselors LLC grew its holdings in shares of Norfolk Southern by 23.6% during the third quarter. Northwest Investment Counselors LLC now owns 262 shares of the railroad operator’s stock worth $52,000 after purchasing an additional 50 shares during the last quarter. Bridge Creek Capital Management LLC grew its holdings in shares of Norfolk Southern by 0.5% during the third quarter. Bridge Creek Capital Management LLC now owns 10,454 shares of the railroad operator’s stock worth $2,059,000 after purchasing an additional 50 shares during the last quarter. Jacobi Capital Management LLC grew its holdings in shares of Norfolk Southern by 0.7% during the second quarter. Jacobi Capital Management LLC now owns 7,257 shares of the railroad operator’s stock worth $1,645,000 after purchasing an additional 52 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Norfolk Southern by 2.5% during the second quarter. First Horizon Advisors Inc. now owns 2,169 shares of the railroad operator’s stock worth $492,000 after purchasing an additional 53 shares during the last quarter. Institutional investors and hedge funds own 72.37% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC opened at $254.83 on Friday. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $256.36. The stock’s 50 day moving average is $234.74 and its two-hundred day moving average is $216.12. The firm has a market capitalization of $57.56 billion, a PE ratio of 31.77, a P/E/G ratio of 4.41 and a beta of 1.30. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34.

Norfolk Southern (NYSE:NSCGet Free Report) last announced its quarterly earnings data on Friday, January 26th. The railroad operator reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.04). Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the firm posted $3.42 EPS. Norfolk Southern’s revenue for the quarter was down 4.2% compared to the same quarter last year. Research analysts anticipate that Norfolk Southern Co. will post 12.25 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Friday, February 2nd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.12%. Norfolk Southern’s payout ratio is 67.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Norfolk Southern from $238.00 to $237.00 and set an “overweight” rating on the stock in a report on Tuesday, January 9th. BMO Capital Markets lowered their price target on Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating on the stock in a report on Monday, January 29th. UBS Group raised their price target on Norfolk Southern from $209.00 to $238.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Stifel Nicolaus lowered Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price target for the stock from $250.00 to $233.00 in a report on Monday, January 29th. Finally, Wells Fargo & Company lowered their price target on Norfolk Southern from $245.00 to $220.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $238.94.

View Our Latest Stock Report on Norfolk Southern

About Norfolk Southern

(Free Report)

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.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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