Bartlett & CO. Wealth Management LLC Decreases Position in Norfolk Southern Corporation $NSC

Bartlett & CO. Wealth Management LLC decreased its holdings in Norfolk Southern Corporation (NYSE:NSC) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,114 shares of the railroad operator’s stock after selling 2,300 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Norfolk Southern were worth $20,917,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. JPL Wealth Management LLC acquired a new stake in shares of Norfolk Southern in the third quarter valued at $25,000. GoalVest Advisory LLC grew its stake in Norfolk Southern by 933.3% during the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 84 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 67 shares in the last quarter. FNY Investment Advisers LLC increased its holdings in Norfolk Southern by 669.2% during the 3rd quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock worth $30,000 after purchasing an additional 87 shares during the period. Finally, BNP Paribas purchased a new stake in Norfolk Southern during the 2nd quarter worth about $26,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $340.24 on Friday. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $342.53. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The firm has a market capitalization of $76.42 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 6.18 and a beta of 1.27. The business’s fifty day moving average price is $314.78 and its 200 day moving average price is $304.41.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The company 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 revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $2.69 EPS. On average, sell-side analysts anticipate that Norfolk Southern Corporation will post 12.24 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio (DPR) is 45.49%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NSC. Wall Street Zen upgraded Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen upped their target price on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Jefferies Financial Group cut their target price on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Weiss Ratings cut shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Finally, Robert W. Baird lifted their price target on shares of Norfolk Southern from $330.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. According to MarketBeat, Norfolk Southern currently has a consensus rating of “Hold” and an average target price of $329.35.

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.