Public Employees Retirement Association of Colorado Has $8.31 Million Stock Holdings in Norfolk Southern Corporation $NSC

Public Employees Retirement Association of Colorado lessened its holdings in Norfolk Southern Corporation (NYSE:NSC) by 89.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 28,773 shares of the railroad operator’s stock after selling 243,592 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Norfolk Southern were worth $8,307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NSC. Piedmont Capital Management LLC NC acquired a new stake in Norfolk Southern during the fourth quarter valued at $528,000. South Plains Financial Inc. acquired a new stake in Norfolk Southern during the fourth quarter valued at $64,000. Sargent Investment Group LLC acquired a new stake in Norfolk Southern during the fourth quarter valued at $1,302,000. MML Investors Services LLC boosted its position in Norfolk Southern by 3.9% during the fourth quarter. MML Investors Services LLC now owns 37,992 shares of the railroad operator’s stock valued at $10,969,000 after purchasing an additional 1,438 shares during the last quarter. Finally, Nicolet Advisory Services LLC boosted its position in Norfolk Southern by 13.9% during the fourth quarter. Nicolet Advisory Services LLC now owns 5,299 shares of the railroad operator’s stock valued at $1,530,000 after purchasing an additional 648 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 1.2%

Shares of NSC opened at $310.15 on Tuesday. Norfolk Southern Corporation has a 12-month low of $248.82 and a 12-month high of $326.00. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $69.66 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 5.79 and a beta of 1.27. The stock’s 50-day moving average price is $308.79 and its 200 day moving average price is $300.35.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the company posted $2.69 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts predict that Norfolk Southern Corporation will post 12.12 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s payout ratio is currently 45.49%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Argus raised Norfolk Southern to a “hold” rating in a report on Wednesday, February 25th. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. UBS Group set a $327.00 target price on Norfolk Southern in a research report on Thursday, May 7th. Zacks Research raised Norfolk Southern from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Evercore set a $325.00 target price on Norfolk Southern in a research report on Friday, April 24th. Six analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat.com, Norfolk Southern presently has an average rating of “Hold” and a consensus target price of $322.71.

Norfolk Southern 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.