Norfolk Southern Co. (NYSE:NSC) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC lowered its position in shares of Norfolk Southern Co. (NYSE:NSC) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,191 shares of the railroad operator’s stock after selling 128 shares during the quarter. Sentry Investment Management LLC’s holdings in Norfolk Southern were worth $282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Provence Wealth Management Group purchased a new position in shares of Norfolk Southern during the 3rd quarter worth $28,000. Exchange Traded Concepts LLC increased its stake in Norfolk Southern by 662.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after acquiring an additional 106 shares during the last quarter. Worth Asset Management LLC purchased a new stake in Norfolk Southern in the first quarter valued at $30,000. Operose Advisors LLC acquired a new position in shares of Norfolk Southern in the 3rd quarter valued at $32,000. Finally, Orion Capital Management LLC purchased a new position in shares of Norfolk Southern during the 3rd quarter worth $32,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on NSC. UBS Group raised shares of Norfolk Southern from a “neutral” rating to a “buy” rating and upped their target price for the company from $238.00 to $302.00 in a research report on Monday, March 4th. Susquehanna dropped their target price on shares of Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Barclays upgraded Norfolk Southern from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $255.00 to $305.00 in a research report on Wednesday, February 21st. Stifel Nicolaus raised their price objective on shares of Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a research note on Friday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $270.00 target price on shares of Norfolk Southern in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus price target of $262.33.

Norfolk Southern Price Performance

Shares of NSC opened at $245.57 on Tuesday. The firm has a fifty day moving average price of $253.91 and a 200 day moving average price of $230.00. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.14. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The stock has a market cap of $60.46 billion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 3.33 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Friday, January 26th. The railroad operator reported $2.83 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.04). The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.09 billion. Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $3.42 EPS. As a group, sell-side analysts anticipate that Norfolk Southern Co. will post 12 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 2nd were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.20%. Norfolk Southern’s payout ratio is 67.33%.

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.