Norfolk Southern Co. (NYSE:NSC) Position Lessened by Core Alternative Capital

Core Alternative Capital decreased its stake in Norfolk Southern Co. (NYSE:NSCGet Rating) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,889 shares of the railroad operator’s stock after selling 910 shares during the period. Norfolk Southern accounts for 1.9% of Core Alternative Capital’s portfolio, making the stock its 20th largest position. Core Alternative Capital’s holdings in Norfolk Southern were worth $9,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arlington Partners LLC bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $27,000. Benjamin Edwards Inc. raised its stake in Norfolk Southern by 141.4% during the 4th quarter. Benjamin Edwards Inc. now owns 140 shares of the railroad operator’s stock valued at $42,000 after acquiring an additional 82 shares in the last quarter. Atticus Wealth Management LLC bought a new stake in Norfolk Southern during the 4th quarter valued at $45,000. Amplius Wealth Advisors LLC bought a new stake in Norfolk Southern during the 4th quarter valued at $49,000. Finally, Allworth Financial LP raised its stake in Norfolk Southern by 86.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the railroad operator’s stock valued at $54,000 after acquiring an additional 85 shares in the last quarter. 73.63% of the stock is currently owned by institutional investors and hedge funds.

In other Norfolk Southern news, Director Steven F. Leer sold 700 shares of the business’s stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $265.51, for a total value of $185,857.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Alan H. Shaw sold 1,000 shares of the business’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $256.70, for a total value of $256,700.00. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Several brokerages have weighed in on NSC. Susquehanna cut their target price on Norfolk Southern from $356.00 to $350.00 and set a “positive” rating on the stock in a research note on Thursday, April 7th. The Goldman Sachs Group boosted their price objective on Norfolk Southern from $313.00 to $320.00 in a research note on Wednesday, January 26th. JPMorgan Chase & Co. dropped their price objective on Norfolk Southern from $318.00 to $308.00 and set an “overweight” rating on the stock in a research note on Friday, April 8th. StockNews.com began coverage on Norfolk Southern in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Susquehanna Bancshares dropped their price objective on Norfolk Southern from $356.00 to $350.00 in a research note on Thursday, April 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Norfolk Southern presently has a consensus rating of “Buy” and an average price target of $309.41.

Shares of NSC stock traded up $4.17 on Tuesday, reaching $251.27. 23,549 shares of the company’s stock traded hands, compared to its average volume of 1,440,090. Norfolk Southern Co. has a 12-month low of $238.62 and a 12-month high of $299.20. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.87 and a current ratio of 0.96. The company has a market capitalization of $59.89 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 1.72 and a beta of 1.36. The business’s 50 day moving average price is $264.87 and its two-hundred day moving average price is $273.98.

Norfolk Southern (NYSE:NSCGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The railroad operator reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.02. Norfolk Southern had a return on equity of 21.95% and a net margin of 26.58%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the company posted $2.66 earnings per share. Norfolk Southern’s revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts predict that Norfolk Southern Co. will post 13.81 earnings per share for the current year.

Norfolk Southern announced that its Board of Directors has authorized a share repurchase program on Tuesday, March 29th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the railroad operator to buy up to 14.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 20th. Shareholders of record on Friday, May 6th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Thursday, May 5th. This represents a $4.96 dividend on an annualized basis and a yield of 1.97%. Norfolk Southern’s dividend payout ratio (DPR) is currently 40.03%.

About Norfolk Southern (Get Rating)

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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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