2,826 Shares in Norfolk Southern Co. (NYSE:NSC) Purchased by 1900 Wealth Management LLC

1900 Wealth Management LLC bought a new position in shares of Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,826 shares of the railroad operator’s stock, valued at approximately $668,000.

Other hedge funds have also recently bought and sold shares of the company. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Norfolk Southern in the 4th quarter valued at about $2,933,000. BKM Wealth Management LLC purchased a new position in Norfolk Southern during the 4th quarter worth approximately $1,444,000. Pathstone Family Office LLC grew its stake in Norfolk Southern by 200.1% during the 3rd quarter. Pathstone Family Office LLC now owns 16,077 shares of the railroad operator’s stock worth $3,198,000 after buying an additional 10,719 shares during the last quarter. ClearBridge Investments Ltd purchased a new position in shares of Norfolk Southern in the 3rd quarter valued at approximately $34,973,000. Finally, LPL Financial LLC grew its stake in shares of Norfolk Southern by 9.8% in the 3rd quarter. LPL Financial LLC now owns 187,259 shares of the railroad operator’s stock valued at $36,877,000 after purchasing an additional 16,727 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NSC shares. Susquehanna reduced their price objective on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. The Goldman Sachs Group increased their target price on Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Barclays upgraded Norfolk Southern from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $255.00 to $305.00 in a research note on Wednesday, February 21st. Citigroup upped their price target on Norfolk Southern from $253.00 to $286.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Jefferies Financial Group started coverage on Norfolk Southern in a research note on Monday, April 8th. They issued a “buy” rating and a $300.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and a consensus target price of $262.74.

Norfolk Southern Trading Up 0.2 %

Shares of NSC traded up $0.41 during trading hours on Tuesday, reaching $245.02. The stock had a trading volume of 299,555 shares, compared to its average volume of 1,254,116. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The firm has a 50-day moving average of $252.77 and a 200 day moving average of $231.71. The company has a market cap of $60.33 billion, a P/E ratio of 30.50, a P/E/G ratio of 3.28 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last released its earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.04). Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company posted $3.42 EPS. Norfolk Southern’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, sell-side analysts expect that Norfolk Southern Co. will post 11.98 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 2nd were issued a $1.35 dividend. The ex-dividend date was Thursday, February 1st. This represents a $5.40 annualized dividend and a yield of 2.20%. Norfolk Southern’s dividend payout ratio is currently 67.33%.

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.