Securian Asset Management Inc Cuts Stake in Norfolk Southern Corp. (NYSE:NSC)

Securian Asset Management Inc trimmed its position in Norfolk Southern Corp. (NYSE:NSC) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 27,803 shares of the railroad operator’s stock after selling 222 shares during the period. Securian Asset Management Inc’s holdings in Norfolk Southern were worth $5,196,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NSC. Daiwa Securities Group Inc. raised its stake in shares of Norfolk Southern by 30.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 31,435 shares of the railroad operator’s stock valued at $5,875,000 after purchasing an additional 7,420 shares during the period. World Asset Management Inc increased its position in shares of Norfolk Southern by 6.4% in the first quarter. World Asset Management Inc now owns 17,356 shares of the railroad operator’s stock valued at $3,244,000 after acquiring an additional 1,045 shares during the last quarter. Coho Partners Ltd. acquired a new stake in shares of Norfolk Southern in the first quarter valued at about $207,000. Inlet Private Wealth LLC grew its holdings in Norfolk Southern by 30.3% during the first quarter. Inlet Private Wealth LLC now owns 8,600 shares of the railroad operator’s stock worth $1,607,000 after purchasing an additional 2,000 shares during the period. Finally, Glenview State Bank Trust DEPT. bought a new position in Norfolk Southern during the first quarter worth about $225,000. Hedge funds and other institutional investors own 74.96% of the company’s stock.

NYSE NSC traded down $1.17 on Wednesday, reaching $203.47. The company had a trading volume of 660,962 shares, compared to its average volume of 1,581,118. The company has a market capitalization of $54.13 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 1.57 and a beta of 1.44. Norfolk Southern Corp. has a fifty-two week low of $138.65 and a fifty-two week high of $211.46. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 0.69.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.17 by $0.34. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. Norfolk Southern’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.93 earnings per share. Research analysts expect that Norfolk Southern Corp. will post 10.8 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $3.44 dividend on an annualized basis and a yield of 1.69%. Norfolk Southern’s dividend payout ratio (DPR) is currently 36.17%.

In other news, COO Michael Joseph Wheeler sold 2,500 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $204.57, for a total transaction of $511,425.00. Following the transaction, the chief operating officer now owns 12,919 shares of the company’s stock, valued at approximately $2,642,839.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

A number of equities analysts recently commented on NSC shares. Deutsche Bank cut Norfolk Southern from a “buy” rating to a “hold” rating and set a $177.00 price target for the company. in a report on Friday, January 25th. Loop Capital boosted their price objective on Norfolk Southern to $197.00 and gave the stock a “buy” rating in a report on Friday, January 25th. TD Securities boosted their price objective on Norfolk Southern from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, January 25th. ValuEngine upgraded Norfolk Southern from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. Finally, Cowen restated an “outperform” rating and set a $200.00 price objective (up previously from $194.00) on shares of Norfolk Southern in a report on Tuesday, February 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $202.06.

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About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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

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