MML Investors Services LLC Sells 215 Shares of Norfolk Southern Corp. (NYSE:NSC)

MML Investors Services LLC lowered its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,752 shares of the railroad operator’s stock after selling 215 shares during the quarter. MML Investors Services LLC’s holdings in Norfolk Southern were worth $2,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in NSC. Oregon Public Employees Retirement Fund raised its stake in shares of Norfolk Southern by 14,153.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,774,792 shares of the railroad operator’s stock valued at $152,000 after purchasing an additional 22,615,008 shares in the last quarter. Norges Bank bought a new stake in shares of Norfolk Southern during the fourth quarter valued at about $400,313,000. Swedbank bought a new stake in shares of Norfolk Southern during the fourth quarter valued at about $127,592,000. PNC Financial Services Group Inc. raised its stake in shares of Norfolk Southern by 87.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,196,717 shares of the railroad operator’s stock valued at $178,960,000 after purchasing an additional 558,407 shares in the last quarter. Finally, Ronna Sue Cohen raised its stake in shares of Norfolk Southern by 18,679.2% during the first quarter. Ronna Sue Cohen now owns 491,076 shares of the railroad operator’s stock valued at $491,000 after purchasing an additional 488,461 shares in the last quarter. 72.50% of the stock is owned by institutional investors and hedge funds.

In related news, Chairman James A. Squires sold 3,024 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $204.71, for a total value of $619,043.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Joseph Wheeler sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $204.57, for a total value of $511,425.00. Following the completion of the sale, the chief operating officer now owns 12,919 shares of the company’s stock, valued at $2,642,839.83. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

NSC has been the topic of a number of recent analyst reports. Argus lifted their price objective on shares of Norfolk Southern from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Morgan Stanley boosted their price target on shares of Norfolk Southern from $133.00 to $138.00 and gave the stock an “underweight” rating in a research report on Monday, April 29th. Cowen reiterated an “outperform” rating and issued a $230.00 price target (up from $200.00) on shares of Norfolk Southern in a research report on Wednesday, April 24th. TD Securities boosted their price target on shares of Norfolk Southern from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, BMO Capital Markets boosted their price target on shares of Norfolk Southern from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $203.11.

Shares of Norfolk Southern stock traded up $1.59 during trading on Monday, hitting $200.92. 1,757,900 shares of the stock traded hands, compared to its average volume of 1,613,870. The company has a market capitalization of $53.50 billion, a PE ratio of 21.13, a P/E/G ratio of 1.57 and a beta of 1.32. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. Norfolk Southern Corp. has a twelve month low of $138.65 and a twelve month high of $211.46. The business’s fifty day moving average is $198.62.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $2.82 billion. During the same period in the previous year, the company earned $1.93 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, analysts forecast that Norfolk Southern Corp. will post 10.86 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 3rd were issued a $0.86 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $3.44 annualized dividend and a yield of 1.71%. Norfolk Southern’s dividend payout ratio (DPR) is currently 36.17%.

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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