Dover Advisors LLC Lowers Position in Norfolk Southern Co. (NYSE:NSC)

Dover Advisors LLC lowered its holdings in Norfolk Southern Co. (NYSE:NSC) by 24.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,852 shares of the railroad operator’s stock after selling 905 shares during the period. Dover Advisors LLC’s holdings in Norfolk Southern were worth $674,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bfsg LLC increased its position in shares of Norfolk Southern by 12.8% during the 3rd quarter. Bfsg LLC now owns 33,072 shares of the railroad operator’s stock valued at $6,513,000 after purchasing an additional 3,759 shares during the last quarter. Ascent Wealth Partners LLC increased its position in shares of Norfolk Southern by 6.0% during the 3rd quarter. Ascent Wealth Partners LLC now owns 4,108 shares of the railroad operator’s stock valued at $809,000 after purchasing an additional 233 shares during the last quarter. Avestar Capital LLC bought a new position in shares of Norfolk Southern during the 3rd quarter valued at about $273,000. Commonwealth Equity Services LLC increased its position in shares of Norfolk Southern by 1.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 127,150 shares of the railroad operator’s stock valued at $25,040,000 after purchasing an additional 1,237 shares during the last quarter. Finally, Baxter Bros Inc. increased its position in shares of Norfolk Southern by 4.0% during the 3rd quarter. Baxter Bros Inc. now owns 27,912 shares of the railroad operator’s stock valued at $5,497,000 after purchasing an additional 1,071 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.4 %

Norfolk Southern stock traded down $0.89 during mid-day trading on Friday, hitting $239.94. The company had a trading volume of 1,461,075 shares, compared to its average volume of 977,733. The company has a current ratio of 0.68, a quick ratio of 1.14 and a debt-to-equity ratio of 1.37. The stock’s 50 day moving average price is $251.83 and its two-hundred day moving average price is $232.92. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66. The company has a market capitalization of $54.20 billion, a PE ratio of 38.64, a price-to-earnings-growth ratio of 3.29 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period last year, the firm posted $3.32 earnings per share. The company’s revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Analyst Ratings Changes

NSC has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Susquehanna reduced their price target on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th. Sanford C. Bernstein upgraded Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price target on the stock in a research report on Monday, January 22nd. Loop Capital raised their price target on Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, TD Cowen raised their price target on Norfolk Southern from $236.00 to $253.00 and gave the stock a “market perform” rating in a research report on Thursday, March 21st. 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $262.32.

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.