Pinnacle Financial Partners Inc Sells 715 Shares of Norfolk Southern Co. (NYSE:NSC)

Pinnacle Financial Partners Inc lessened its stake in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 16.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,567 shares of the railroad operator’s stock after selling 715 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Norfolk Southern were worth $843,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NSC. Axiom Financial Strategies LLC raised its holdings in shares of Norfolk Southern by 9.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 852 shares of the railroad operator’s stock worth $220,000 after acquiring an additional 72 shares during the last quarter. Fairfield Bush & CO. purchased a new stake in Norfolk Southern in the 1st quarter valued at about $81,000. United Bank increased its stake in Norfolk Southern by 2.0% in the 1st quarter. United Bank now owns 7,581 shares of the railroad operator’s stock valued at $2,162,000 after buying an additional 148 shares during the last quarter. Cetera Investment Advisers increased its stake in Norfolk Southern by 4.6% in the 1st quarter. Cetera Investment Advisers now owns 8,640 shares of the railroad operator’s stock valued at $2,464,000 after buying an additional 377 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in Norfolk Southern by 13.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,946 shares of the railroad operator’s stock valued at $555,000 after buying an additional 228 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.5 %

NSC opened at $250.76 on Wednesday. The company has a 50 day moving average of $252.32 and a 200 day moving average of $226.61. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66. The company has a market cap of $61.74 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 3.38 and a beta of 1.30.

Norfolk Southern (NYSE:NSCGet Free Report) last announced its quarterly earnings results on Friday, January 26th. The railroad operator reported $2.83 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.04). Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the business 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, sell-side analysts expect that Norfolk Southern Co. will post 12.14 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 2nd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.15%. The ex-dividend date was Thursday, February 1st. Norfolk Southern’s payout ratio is 67.33%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Barclays upgraded shares of Norfolk Southern from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $255.00 to $305.00 in a research note on Wednesday, February 21st. Stifel Nicolaus lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and decreased their price objective for the company from $250.00 to $233.00 in a research note on Monday, January 29th. Sanford C. Bernstein upgraded shares of Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price target for the company in a research note on Monday, January 22nd. Finally, Morgan Stanley lowered shares of Norfolk Southern from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $185.00 to $175.00 in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $252.38.

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About Norfolk Southern

(Free Report)

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.

Further Reading

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

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