Flputnam Investment Management Co. Sells 84 Shares of Norfolk Southern Co. (NYSE:NSC)

Flputnam Investment Management Co. cut its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,552 shares of the railroad operator’s stock after selling 84 shares during the period. Flputnam Investment Management Co.’s holdings in Norfolk Southern were worth $840,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Norfolk Southern in the fourth quarter valued at about $2,933,000. BKM Wealth Management LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter worth about $1,444,000. Pathstone Family Office LLC increased its stake in Norfolk Southern by 200.1% during the third quarter. Pathstone Family Office LLC now owns 16,077 shares of the railroad operator’s stock worth $3,198,000 after acquiring an additional 10,719 shares during the last quarter. ClearBridge Investments Ltd bought a new stake in Norfolk Southern during the third quarter worth approximately $34,973,000. Finally, LPL Financial LLC increased its stake in Norfolk Southern by 9.8% during the third quarter. LPL Financial LLC now owns 187,259 shares of the railroad operator’s stock worth $36,877,000 after acquiring an additional 16,727 shares during the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 1.5 %

Shares of Norfolk Southern stock opened at $239.34 on Thursday. The firm has a market capitalization of $58.93 billion, a PE ratio of 29.84, a P/E/G ratio of 3.30 and a beta of 1.30. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The firm’s 50-day moving average price is $253.51 and its 200 day moving average price is $230.38. 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:NSC) last issued its quarterly earnings results 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). The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.42 earnings per share. On average, sell-side analysts predict that Norfolk Southern Co. will post 11.98 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 2nd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Thursday, February 1st. Norfolk Southern’s dividend payout ratio is presently 67.33%.

Analyst Ratings Changes

NSC has been the topic of several analyst reports. TD Cowen boosted their price objective on Norfolk Southern from $236.00 to $253.00 and gave the stock a “market perform” rating in a research note on Thursday, March 21st. BMO Capital Markets dropped their price objective on Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating on the stock in a research note on Monday, January 29th. Susquehanna lowered their target price on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. The Goldman Sachs Group upped their target price on Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, TheStreet upgraded Norfolk Southern from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.33.

Norfolk Southern 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.