Epoch Investment Partners Inc. Cuts Position in Norfolk Southern Co. (NYSE:NSC)

Epoch Investment Partners Inc. lowered its position in Norfolk Southern Co. (NYSE:NSC) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,204 shares of the railroad operator’s stock after selling 68 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Norfolk Southern were worth $1,581,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Norfolk Southern by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock worth $5,001,490,000 after acquiring an additional 1,088,072 shares in the last quarter. Norges Bank acquired a new position in Norfolk Southern in the fourth quarter valued at $556,797,000. Charles Schwab Investment Management Inc. increased its position in shares of Norfolk Southern by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,296,632 shares of the railroad operator’s stock worth $306,498,000 after purchasing an additional 38,080 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Norfolk Southern by 600.3% in the 4th quarter. Stifel Financial Corp now owns 1,021,312 shares of the railroad operator’s stock valued at $241,421,000 after purchasing an additional 875,473 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Norfolk Southern by 8.5% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 853,694 shares of the railroad operator’s stock valued at $215,464,000 after purchasing an additional 67,024 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $247.22 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The company’s 50-day moving average price is $222.63 and its 200 day moving average price is $237.61. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The stock has a market cap of $55.85 billion, a price-to-earnings ratio of 39.81, a PEG ratio of 2.44 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, beating the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the business earned $2.95 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Norfolk Southern Co. will post 11.6 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, August 2nd. Norfolk Southern’s payout ratio is 86.96%.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average price of $219.25 per share, with a total value of $438,500.00. Following the completion of the purchase, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Norfolk Southern news, Director Sameh Fahmy purchased 2,000 shares of the stock in a transaction on Friday, June 14th. The stock was bought at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the acquisition, the director now directly owns 7,000 shares of the company’s stock, valued at $1,534,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Claude E. Elkins sold 8,329 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NSC. Benchmark lifted their price target on Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday. Sanford C. Bernstein decreased their target price on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Jefferies Financial Group initiated coverage on Norfolk Southern in a report on Monday, April 8th. They set a “buy” rating and a $300.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Finally, Royal Bank of Canada cut their price target on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.24.

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.