Hyman Charles D Has $22.39 Million Stake in Norfolk Southern Co. (NYSE:NSC)

Hyman Charles D lowered its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,716 shares of the railroad operator’s stock after selling 4,690 shares during the quarter. Norfolk Southern comprises approximately 1.3% of Hyman Charles D’s investment portfolio, making the stock its 22nd biggest position. Hyman Charles D’s holdings in Norfolk Southern were worth $22,389,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its stake in Norfolk Southern by 3.2% in the third quarter. Lazard Asset Management LLC now owns 8,629,330 shares of the railroad operator’s stock valued at $1,699,371,000 after acquiring an additional 264,031 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Norfolk Southern by 0.9% during the 3rd quarter. Northern Trust Corp now owns 3,073,839 shares of the railroad operator’s stock worth $605,331,000 after buying an additional 26,686 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Norfolk Southern by 69.0% during the 3rd quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator’s stock worth $536,319,000 after buying an additional 1,112,261 shares during the last quarter. Morgan Stanley boosted its stake in Norfolk Southern by 3.2% in the third 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 in the last quarter. Finally, London Co. of Virginia raised its stake 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 acquiring an additional 577,171 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. BMO Capital Markets reduced their price objective on Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating on the stock in a research report on Monday, January 29th. Loop Capital lifted their price target on Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Stifel Nicolaus boosted their price target on Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Finally, UBS Group dropped their price objective on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating for the company in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $262.32.

Norfolk Southern Trading Down 0.1 %

NYSE NSC traded down $0.25 during trading hours on Wednesday, hitting $232.07. 1,182,663 shares of the company’s stock were exchanged, compared to its average volume of 1,325,848. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. The stock has a 50-day simple moving average of $248.82 and a 200 day simple moving average of $234.41. The firm has a market cap of $52.43 billion, a price-to-earnings ratio of 37.37, a PEG ratio of 3.30 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.09). The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $3.32 EPS. On average, equities analysts forecast that Norfolk Southern Co. will post 11.62 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 3rd will be given a dividend of $1.35 per share. 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 2.33%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

About Norfolk Southern

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.