Mason Street Advisors LLC Lowers Holdings in Norfolk Southern Corp. (NSC)

Mason Street Advisors LLC lowered its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 0.6% in the 1st quarter, Holdings Channel reports. The firm owned 38,156 shares of the railroad operator’s stock after selling 241 shares during the quarter. Mason Street Advisors LLC’s holdings in Norfolk Southern were worth $7,131,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Morgan Stanley raised its stake in Norfolk Southern by 2.2% during the 3rd quarter. Morgan Stanley now owns 869,826 shares of the railroad operator’s stock worth $157,003,000 after buying an additional 19,090 shares during the period. Vanguard Group Inc raised its stake in shares of Norfolk Southern by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 21,159,132 shares of the railroad operator’s stock valued at $3,819,223,000 after purchasing an additional 336,725 shares during the period. Federated Investors Inc. PA raised its stake in shares of Norfolk Southern by 67.2% in the 3rd quarter. Federated Investors Inc. PA now owns 19,842 shares of the railroad operator’s stock valued at $3,582,000 after purchasing an additional 7,977 shares during the period. BKD Wealth Advisors LLC raised its stake in shares of Norfolk Southern by 1.8% in the 4th quarter. BKD Wealth Advisors LLC now owns 4,427 shares of the railroad operator’s stock valued at $662,000 after purchasing an additional 77 shares during the period. Finally, Ferguson Wellman Capital Management Inc. raised its stake in shares of Norfolk Southern by 4.5% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 3,142 shares of the railroad operator’s stock valued at $470,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 74.96% of the company’s stock.

In related news, COO Michael Joseph Wheeler sold 2,500 shares of Norfolk Southern stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $204.57, for a total transaction of $511,425.00. Following the completion of the transaction, the chief operating officer now owns 12,919 shares in the company, valued at $2,642,839.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Norfolk Southern stock opened at $203.52 on Friday. Norfolk Southern Corp. has a 52 week low of $138.65 and a 52 week high of $211.46. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.67 and a quick ratio of 0.59. The stock has a market cap of $54.13 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.34. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the company posted $1.93 earnings per share. Norfolk Southern’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Norfolk Southern Corp. will post 10.8 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 3rd will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Thursday, May 2nd. Norfolk Southern’s payout ratio is currently 36.17%.

NSC has been the topic of several recent research reports. Deutsche Bank downgraded Norfolk Southern from a “buy” rating to a “hold” rating and set a $177.00 price target on the stock. in a research note on Friday, January 25th. Loop Capital lifted their target price on Norfolk Southern to $197.00 and gave the company a “buy” rating in a research report on Friday, January 25th. TD Securities lifted their target price on Norfolk Southern from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, January 25th. ValuEngine raised Norfolk Southern from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Finally, Cowen reaffirmed an “outperform” rating and issued a $200.00 target price (up previously from $194.00) on shares of Norfolk Southern in a research report on Tuesday, February 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $202.06.

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Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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

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