Envestnet Portfolio Solutions Inc. Increases Stake in Norfolk Southern Co. (NYSE:NSC)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 65.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,003 shares of the railroad operator’s stock after acquiring an additional 3,546 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Norfolk Southern were worth $2,113,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Financial Life Planners purchased a new position in Norfolk Southern in the fourth quarter valued at approximately $27,000. Keystone Financial Group Inc. purchased a new position in Norfolk Southern in the fourth quarter valued at approximately $27,000. Bank of Jackson Hole Trust purchased a new position in Norfolk Southern in the fourth quarter valued at approximately $27,000. Vision Financial Markets LLC purchased a new position in Norfolk Southern in the fourth quarter valued at approximately $28,000. Finally, Morse Asset Management Inc purchased a new position in Norfolk Southern in the third quarter valued at approximately $30,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 0.5 %

NYSE:NSC opened at $233.45 on Friday. The firm has a market capitalization of $52.86 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.31 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The business’s 50-day moving average price is $246.07 and its two-hundred day moving average price is $250.02. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. On average, equities analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.31%. Norfolk Southern’s payout ratio is presently 46.71%.

Analyst Ratings Changes

A number of analysts have recently issued reports on NSC shares. Wells Fargo & Company dropped their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Norfolk Southern in a research note on Friday, March 7th. They set a “buy” rating and a $293.00 price objective on the stock. Royal Bank of Canada lifted their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Stephens raised their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $276.95.

Insider Buying and Selling

In related news, Director Gilbert H. Lamphere purchased 607 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the purchase, the director now directly owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.