Waycross Partners LLC Has $8.88 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Waycross Partners LLC reduced its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,549 shares of the railroad operator’s stock after selling 2,665 shares during the quarter. Norfolk Southern accounts for approximately 1.7% of Waycross Partners LLC’s holdings, making the stock its 29th biggest position. Waycross Partners LLC’s holdings in Norfolk Southern were worth $8,876,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Lazard Asset Management LLC increased its holdings in Norfolk Southern by 3.2% in the 3rd quarter. Lazard Asset Management LLC now owns 8,629,330 shares of the railroad operator’s stock valued at $1,699,371,000 after buying an additional 264,031 shares during the period. Northern Trust Corp increased its holdings in Norfolk Southern by 0.9% in the 3rd quarter. Northern Trust Corp now owns 3,073,839 shares of the railroad operator’s stock valued at $605,331,000 after buying an additional 26,686 shares during the period. American Century Companies Inc. increased its holdings in Norfolk Southern by 69.0% in the 3rd quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator’s stock valued at $536,319,000 after buying an additional 1,112,261 shares during the period. Morgan Stanley increased its holdings in Norfolk Southern by 3.2% in the 3rd quarter. Morgan Stanley now owns 2,385,434 shares of the railroad operator’s stock valued at $469,764,000 after buying an additional 73,149 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Norfolk Southern by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,001,507 shares of the railroad operator’s stock valued at $394,157,000 after buying an additional 49,224 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Trading Down 4.6 %

Norfolk Southern stock traded down $11.12 during trading hours on Tuesday, reaching $230.32. 3,569,162 shares of the company’s stock traded hands, compared to its average volume of 1,320,261. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The firm has a market capitalization of $52.03 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 3.31 and a beta of 1.30. The firm’s 50 day moving average is $251.14 and its 200-day moving average is $233.41.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.32 earnings per share. On average, analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 3rd will be given a $1.35 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.34%. Norfolk Southern’s dividend payout ratio is 86.96%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NSC. Royal Bank of Canada reissued a “sector perform” rating and issued a $270.00 price target on shares of Norfolk Southern in a report on Wednesday, April 10th. JPMorgan Chase & Co. upped their target price on shares of Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. BMO Capital Markets lowered their target price on shares of Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating on the stock in a report on Monday, January 29th. Citigroup upped their target price on shares of Norfolk Southern from $253.00 to $286.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Finally, Jefferies Financial Group assumed coverage on shares of Norfolk Southern in a report on Monday, April 8th. They issued a “buy” rating and a $300.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus price target of $262.32.

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.