OLD National Bancorp IN Has $1.13 Million Stock Position in Norfolk Southern Co. (NYSE:NSC)

OLD National Bancorp IN reduced its stake in Norfolk Southern Co. (NYSE:NSC) by 9.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,787 shares of the railroad operator’s stock after selling 479 shares during the period. OLD National Bancorp IN’s holdings in Norfolk Southern were worth $1,132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Commerzbank Aktiengesellschaft FI bought a new position in shares of Norfolk Southern in the 4th quarter worth $237,000. Handelsbanken Fonder AB lifted its holdings in Norfolk Southern by 8.2% during the fourth quarter. Handelsbanken Fonder AB now owns 99,438 shares of the railroad operator’s stock worth $23,505,000 after acquiring an additional 7,547 shares in the last quarter. CWM LLC lifted its holdings in Norfolk Southern by 13.0% during the fourth quarter. CWM LLC now owns 6,049 shares of the railroad operator’s stock worth $1,430,000 after acquiring an additional 697 shares in the last quarter. Capital Management Corp VA bought a new position in Norfolk Southern during the fourth quarter worth about $201,000. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at about $72,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Trading Up 0.2 %

Shares of NSC stock opened at $245.03 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34. The stock has a market cap of $60.33 billion, a P/E ratio of 30.55, a price-to-earnings-growth ratio of 3.34 and a beta of 1.30. The stock has a 50 day simple moving average of $252.66 and a 200 day simple moving average of $232.09. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66.

Norfolk Southern (NYSE:NSC) last released its earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.04). Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the company earned $3.42 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, research analysts predict that Norfolk Southern Co. will post 11.93 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.20%. Norfolk Southern’s payout ratio is presently 67.33%.

Analyst Ratings Changes

Several analysts have issued reports on NSC shares. Susquehanna dropped their price target on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Jefferies Financial Group began coverage on Norfolk Southern in a research note on Monday, April 8th. They issued a “buy” rating and a $300.00 price target on the stock. Stifel Nicolaus lifted their target price on Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a research report on Friday, April 12th. BMO Capital Markets lowered their target price on Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating on the stock in a research report on Monday, January 29th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $270.00 target price on shares of Norfolk Southern in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $262.74.

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.