Keybank National Association OH lessened its holdings in Norfolk Southern Corp. (NYSE:NSC) by 2.4% during the third quarter, HoldingsChannel.com reports. The fund owned 199,361 shares of the railroad operator’s stock after selling 4,906 shares during the period. Keybank National Association OH’s holdings in Norfolk Southern were worth $35,817,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Bigelow Investment Advisors LLC grew its holdings in shares of Norfolk Southern by 1.0% during the second quarter. Bigelow Investment Advisors LLC now owns 5,409 shares of the railroad operator’s stock worth $1,078,000 after purchasing an additional 55 shares during the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of Norfolk Southern by 18.4% during the second quarter. Contravisory Investment Management Inc. now owns 360 shares of the railroad operator’s stock worth $72,000 after purchasing an additional 56 shares during the last quarter. Unison Advisors LLC grew its holdings in shares of Norfolk Southern by 0.4% during the second quarter. Unison Advisors LLC now owns 12,654 shares of the railroad operator’s stock worth $2,522,000 after purchasing an additional 56 shares during the last quarter. First Financial Corp IN grew its holdings in shares of Norfolk Southern by 8.5% during the third quarter. First Financial Corp IN now owns 765 shares of the railroad operator’s stock worth $138,000 after purchasing an additional 60 shares during the last quarter. Finally, NEXT Financial Group Inc lifted its stake in shares of Norfolk Southern by 2.6% in the third quarter. NEXT Financial Group Inc now owns 2,390 shares of the railroad operator’s stock worth $429,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 72.95% of the company’s stock.

Shares of NYSE:NSC traded down $0.23 during trading on Friday, reaching $195.36. 685,534 shares of the stock were exchanged, compared to its average volume of 1,849,320. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.73 and a quick ratio of 0.63. Norfolk Southern Corp. has a 1-year low of $138.65 and a 1-year high of $211.46. The stock has a fifty day moving average of $181.65 and a two-hundred day moving average of $189.22. The firm has a market cap of $50.53 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.94 and a beta of 1.37.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, October 23rd. The railroad operator reported $2.49 earnings per share for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.08). Norfolk Southern had a return on equity of 18.22% and a net margin of 23.98%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period in the previous year, the company earned $2.52 earnings per share. Norfolk Southern’s revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts forecast that Norfolk Southern Corp. will post 10.23 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 1st will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, October 31st. Norfolk Southern’s payout ratio is 39.54%.

A number of research firms recently commented on NSC. Cowen reaffirmed a “buy” rating and issued a $215.00 price objective on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Barclays cut their price objective on Norfolk Southern from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. ValuEngine raised Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Zacks Investment Research raised Norfolk Southern from a “sell” rating to a “hold” rating and set a $182.00 price objective on the stock in a research note on Friday, October 11th. Finally, Wells Fargo & Co assumed coverage on Norfolk Southern in a research note on Monday, October 28th. They issued a “market perform” rating and a $216.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $204.29.

Norfolk Southern Company Profile

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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