Focus Partners Wealth raised its holdings in Norfolk Southern Corporation (NYSE:NSC – Free Report) by 51.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 175,575 shares of the railroad operator’s stock after buying an additional 59,580 shares during the period. Focus Partners Wealth’s holdings in Norfolk Southern were worth $50,760,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in NSC. K2 Principal Fund L.P. raised its position in shares of Norfolk Southern by 1,100.0% during the 4th quarter. K2 Principal Fund L.P. now owns 10,800 shares of the railroad operator’s stock valued at $3,118,000 after acquiring an additional 9,900 shares in the last quarter. Barclays PLC raised its position in shares of Norfolk Southern by 12.0% during the 4th quarter. Barclays PLC now owns 444,677 shares of the railroad operator’s stock valued at $128,387,000 after acquiring an additional 47,560 shares in the last quarter. Blue Jean Financial LLC acquired a new stake in shares of Norfolk Southern during the 4th quarter valued at approximately $1,563,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Norfolk Southern during the 4th quarter valued at approximately $71,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Norfolk Southern by 17.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,465,985 shares of the railroad operator’s stock valued at $423,259,000 after acquiring an additional 213,420 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms recently issued reports on NSC. Royal Bank Of Canada upped their price target on Norfolk Southern from $310.00 to $360.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Rothschild & Co Redburn upped their price target on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. UBS Group set a $327.00 price target on Norfolk Southern in a research report on Thursday, May 7th. Evercore set a $325.00 price target on Norfolk Southern in a research report on Friday, April 24th. Finally, Weiss Ratings lowered Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $322.71.
Norfolk Southern Price Performance
Shares of NYSE NSC opened at $310.15 on Tuesday. Norfolk Southern Corporation has a 1-year low of $248.82 and a 1-year high of $326.00. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The business’s fifty day moving average price is $308.79 and its two-hundred day moving average price is $300.35. The firm has a market capitalization of $69.66 billion, a PE ratio of 26.13, a P/E/G ratio of 5.79 and a beta of 1.27.
Norfolk Southern (NYSE:NSC – Get Free Report) last issued its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company earned $2.69 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts expect that Norfolk Southern Corporation will post 12.12 EPS for the current year.
Norfolk Southern Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio is presently 45.49%.
Norfolk Southern Profile
Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.
The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.
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