Private Management Group Inc. Has $249,000 Stake in Norfolk Southern Co. (NYSE:NSC)

Private Management Group Inc. decreased its position in Norfolk Southern Co. (NYSE:NSC) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,054 shares of the railroad operator’s stock after selling 93 shares during the quarter. Private Management Group Inc.’s holdings in Norfolk Southern were worth $249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NSC. American Century Companies Inc. grew its position in shares of Norfolk Southern by 69.0% in the third quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator’s stock valued at $536,319,000 after purchasing an additional 1,112,261 shares during the last quarter. London Co. of Virginia grew its position in Norfolk Southern by 41.2% during the third quarter. London Co. of Virginia now owns 1,976,871 shares of the railroad operator’s stock worth $389,305,000 after buying an additional 577,171 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Norfolk Southern during the third quarter worth approximately $103,223,000. International Assets Investment Management LLC grew its position in Norfolk Southern by 23,585.8% during the fourth quarter. International Assets Investment Management LLC now owns 351,261 shares of the railroad operator’s stock worth $83,031,000 after buying an additional 349,778 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in Norfolk Southern by 3.2% during the third quarter. Lazard Asset Management LLC now owns 8,629,330 shares of the railroad operator’s stock worth $1,699,371,000 after buying an additional 264,031 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 3.6 %

Norfolk Southern stock traded down $8.81 during trading hours on Wednesday, reaching $236.22. 2,444,056 shares of the company’s stock were exchanged, compared to its average volume of 1,274,665. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The firm’s 50 day simple moving average is $252.66 and its 200 day simple moving average is $232.09. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The firm has a market capitalization of $58.16 billion, a PE ratio of 30.55, a PEG ratio of 3.34 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last issued its 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 during the quarter, compared to analyst estimates of $3.09 billion. Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.42 earnings per share. Research analysts predict that Norfolk Southern Co. will post 11.93 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 3rd will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.29%. Norfolk Southern’s dividend payout ratio is presently 67.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NSC shares. Sanford C. Bernstein raised Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price target on the stock in a research report on Monday, January 22nd. Loop Capital increased their price target on Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Citigroup increased their price target on Norfolk Southern from $253.00 to $286.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. UBS Group upgraded Norfolk Southern from a “neutral” rating to a “buy” rating and upped their target price for the stock from $238.00 to $302.00 in a research note on Monday, March 4th. Finally, Susquehanna dropped their price target on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and an average target price of $262.74.

Norfolk Southern 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.