Bank of New York Mellon Corp Sells 117,661 Shares of Norfolk Southern Corporation $NSC

Bank of New York Mellon Corp cut its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 9.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,192,855 shares of the railroad operator’s stock after selling 117,661 shares during the period. Bank of New York Mellon Corp’s holdings in Norfolk Southern were worth $342,349,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NSC. Gilbert & Cook Inc. boosted its stake in shares of Norfolk Southern by 1.4% during the 4th quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator’s stock worth $726,000 after acquiring an additional 35 shares during the period. Moss Adams Wealth Advisors LLC boosted its position in Norfolk Southern by 4.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock worth $228,000 after purchasing an additional 35 shares during the period. Confluence Wealth Services Inc. increased its holdings in shares of Norfolk Southern by 1.1% in the fourth quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock valued at $892,000 after purchasing an additional 35 shares during the last quarter. Exencial Wealth Advisors LLC increased its holdings in shares of Norfolk Southern by 1.1% in the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock valued at $929,000 after purchasing an additional 35 shares during the last quarter. Finally, Sovereign Financial Group Inc. raised its position in shares of Norfolk Southern by 3.3% in the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock valued at $318,000 after purchasing an additional 35 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NSC stock opened at $340.24 on Friday. The stock has a market cap of $76.42 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 6.18 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $342.53. The business’s fifty day moving average is $314.78 and its 200 day moving average is $304.41.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the business earned $2.69 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts expect that Norfolk Southern Corporation will post 12.24 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a dividend of $1.35 per share. The ex-dividend date was Friday, May 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. Norfolk Southern’s dividend payout ratio (DPR) is presently 45.49%.

Analyst Upgrades and Downgrades

NSC has been the subject of several analyst reports. Barclays lifted their price objective on Norfolk Southern from $320.00 to $360.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. BMO Capital Markets increased their target price on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. TD Cowen raised their price target on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Stephens upgraded shares of Norfolk Southern to a “hold” rating in a report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $329.35.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.