Forum Financial Management LP Has $870,000 Position in Norfolk Southern Corporation $NSC

Forum Financial Management LP lessened its holdings in Norfolk Southern Corporation (NYSE:NSC) by 48.6% during the first quarter, Holdings Channel reports. The fund owned 3,031 shares of the railroad operator’s stock after selling 2,869 shares during the period. Forum Financial Management LP’s holdings in Norfolk Southern were worth $870,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. 3Chopt Investment Partners LLC increased its holdings in shares of Norfolk Southern by 2.4% in the first quarter. 3Chopt Investment Partners LLC now owns 10,613 shares of the railroad operator’s stock valued at $3,046,000 after purchasing an additional 248 shares during the last quarter. Apollon Financial LLC lifted its stake in shares of Norfolk Southern by 4.3% during the 1st quarter. Apollon Financial LLC now owns 881 shares of the railroad operator’s stock worth $253,000 after buying an additional 36 shares during the last quarter. Patton Fund Management Inc. boosted its holdings in shares of Norfolk Southern by 9.9% during the 1st quarter. Patton Fund Management Inc. now owns 829 shares of the railroad operator’s stock worth $238,000 after buying an additional 75 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Norfolk Southern during the 1st quarter worth about $250,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Norfolk Southern by 3.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 108,877 shares of the railroad operator’s stock worth $31,248,000 after buying an additional 3,603 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Citigroup reissued a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. TD Cowen upped their price objective on Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a report on Monday, April 27th. JPMorgan Chase & Co. decreased their price objective on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Zacks Research upgraded Norfolk Southern from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Susquehanna lifted their target price on Norfolk Southern from $330.00 to $337.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. Six analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Norfolk Southern currently has an average rating of “Hold” and an average price target of $320.35.

Norfolk Southern Stock Up 1.1%

Shares of NSC opened at $316.18 on Tuesday. The firm has a 50 day simple moving average of $311.07 and a two-hundred day simple moving average of $301.35. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. Norfolk Southern Corporation has a one year low of $255.03 and a one year high of $326.00. The company has a market cap of $71.01 billion, a P/E ratio of 26.64, a P/E/G ratio of 5.77 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results 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 company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $2.69 EPS. Research analysts forecast that Norfolk Southern Corporation will post 12.12 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were 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 was Friday, May 8th. Norfolk Southern’s dividend payout ratio is presently 45.49%.

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.