Skylands Capital LLC Sells 8,260 Shares of Norfolk Southern Co. (NYSE:NSC)

Skylands Capital LLC cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 14.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,265 shares of the railroad operator’s stock after selling 8,260 shares during the quarter. Norfolk Southern makes up 1.7% of Skylands Capital LLC’s investment portfolio, making the stock its 14th largest holding. Skylands Capital LLC’s holdings in Norfolk Southern were worth $11,409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its holdings in Norfolk Southern by 662.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after purchasing an additional 106 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter worth about $32,000. Provence Wealth Management Group bought a new position in shares of Norfolk Southern in the third quarter valued at approximately $28,000. Creative Financial Designs Inc. ADV increased its holdings in Norfolk Southern by 317.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 146 shares of the railroad operator’s stock worth $35,000 after acquiring an additional 111 shares during the period. Finally, Financial Connections Group Inc. purchased a new stake in Norfolk Southern in the 4th quarter worth approximately $34,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Up 0.3 %

Norfolk Southern stock traded up $0.82 on Monday, hitting $240.76. 711,442 shares of the stock traded hands, compared to its average volume of 1,284,116. The business’s fifty day simple moving average is $251.83 and its 200 day simple moving average is $232.92. The firm has a market cap of $54.39 billion, a P/E ratio of 38.64, a price-to-earnings-growth ratio of 3.31 and a beta of 1.30. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the firm earned $3.32 EPS. The company’s revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts forecast that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.24%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NSC. TD Cowen upped their price target on shares of Norfolk Southern from $236.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. Loop Capital upped their target price on shares of Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Citigroup raised their price target on Norfolk Southern from $253.00 to $286.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Stifel Nicolaus upped their price objective on Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Finally, Sanford C. Bernstein raised shares of Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price target on the stock in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $262.32.

Norfolk Southern Company Profile

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.