Northstar Asset Management LLC grew its stake in Norfolk Southern Co. (NYSE:NSC) by 23.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,450 shares of the railroad operator’s stock after purchasing an additional 275 shares during the period. Northstar Asset Management LLC’s holdings in Norfolk Southern were worth $389,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. United Bank lifted its stake in shares of Norfolk Southern by 1.5% in the third quarter. United Bank now owns 8,314 shares of the railroad operator’s stock valued at $1,779,000 after buying an additional 123 shares during the period. Wealth Alliance acquired a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $252,000. Schonfeld Strategic Advisors LLC increased its position in shares of Norfolk Southern by 40.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 78,700 shares of the railroad operator’s stock valued at $16,841,000 after purchasing an additional 22,558 shares during the period. IHT Wealth Management LLC acquired a new position in shares of Norfolk Southern in the third quarter valued at $603,000. Finally, Kingsview Wealth Management LLC boosted its stake in Norfolk Southern by 8.4% during the third quarter. Kingsview Wealth Management LLC now owns 8,378 shares of the railroad operator’s stock worth $1,793,000 after buying an additional 647 shares in the last quarter. Institutional investors own 67.25% of the company’s stock.
Several analysts have recently weighed in on NSC shares. Credit Suisse Group decreased their target price on shares of Norfolk Southern from $283.00 to $271.00 and set an “outperform” rating on the stock in a research report on Thursday, January 28th. Cowen raised their target price on Norfolk Southern from $224.00 to $254.00 and gave the stock an “outperform” rating in a research report on Thursday, January 28th. Smith Barney Citigroup increased their price objective on Norfolk Southern from $250.00 to $290.00 in a research note on Monday, January 11th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Norfolk Southern from $232.00 to $261.00 and gave the company a “hold” rating in a research note on Monday, March 29th. Finally, Morgan Stanley boosted their price target on shares of Norfolk Southern from $145.00 to $165.00 and gave the company an “underweight” rating in a research report on Tuesday, April 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Norfolk Southern has an average rating of “Buy” and a consensus target price of $240.82.
Norfolk Southern stock traded up $2.90 during midday trading on Friday, hitting $281.44. 8,172 shares of the stock were exchanged, compared to its average volume of 1,170,299. Norfolk Southern Co. has a 52 week low of $154.58 and a 52 week high of $283.51. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $76.62 billion, a PE ratio of 36.26, a P/E/G ratio of 3.09 and a beta of 1.38. The company has a fifty day simple moving average of $266.01 and a two-hundred day simple moving average of $244.22.
Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, January 26th. The railroad operator reported $2.64 EPS for the quarter, beating the Zacks’ consensus estimate of $2.48 by $0.16. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Norfolk Southern had a net margin of 20.27% and a return on equity of 15.83%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.55 EPS. As a group, equities research analysts anticipate that Norfolk Southern Co. will post 9.1 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Friday, February 5th were given a $0.99 dividend. The ex-dividend date was Thursday, February 4th. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.94. This represents a $3.96 annualized dividend and a dividend yield of 1.41%. Norfolk Southern’s payout ratio is currently 38.30%.
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 industrial products, including agriculture, forest and consumer products, chemicals, and metals and construction materials; and coal, automobiles, and automotive parts.
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