Prudent Investors Network Inc. Sells 1,677 Shares of Norfolk Southern Corporation $NSC

Prudent Investors Network Inc. reduced its stake in Norfolk Southern Corporation (NYSE:NSC) by 61.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,039 shares of the railroad operator’s stock after selling 1,677 shares during the period. Prudent Investors Network Inc.’s holdings in Norfolk Southern were worth $300,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Norfolk Southern by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock valued at $6,012,836,000 after buying an additional 272,651 shares during the period. Pentwater Capital Management LP bought a new stake in Norfolk Southern during the third quarter worth $826,128,000. Dimensional Fund Advisors LP lifted its stake in Norfolk Southern by 5.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,179,610 shares of the railroad operator’s stock worth $654,757,000 after purchasing an additional 118,697 shares during the last quarter. Legal & General Group Plc lifted its stake in Norfolk Southern by 4.6% during the third quarter. Legal & General Group Plc now owns 1,744,074 shares of the railroad operator’s stock worth $523,937,000 after purchasing an additional 76,751 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Norfolk Southern by 545.2% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock worth $392,396,000 after purchasing an additional 1,103,748 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Performance

NYSE NSC opened at $316.85 on Friday. The company has a market capitalization of $71.16 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 5.87 and a beta of 1.30. Norfolk Southern Corporation has a twelve month low of $236.37 and a twelve month high of $323.37. The stock has a fifty day simple moving average of $299.40 and a 200 day simple moving average of $296.01. 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 (NYSE:NSC) last posted its quarterly earnings data 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. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.Norfolk Southern’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $2.69 earnings per share. Sell-side analysts expect that Norfolk Southern Corporation will post 12.11 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Friday, May 8th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, May 8th. Norfolk Southern’s dividend payout ratio is presently 45.49%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Argus upgraded Norfolk Southern to a “hold” rating in a research note on Wednesday, February 25th. Jefferies Financial Group cut their target price on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Citigroup reiterated a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. UBS Group set a $327.00 price target on shares of Norfolk Southern in a report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Six research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $319.83.

About Norfolk Southern

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.