Salvus Wealth Management LLC Purchases 668 Shares of Norfolk Southern Co. (NYSE:NSC)

Salvus Wealth Management LLC boosted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 15.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,929 shares of the railroad operator’s stock after acquiring an additional 668 shares during the period. Salvus Wealth Management LLC’s holdings in Norfolk Southern were worth $1,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in NSC. Strategic Investment Solutions Inc. IL grew its position in shares of Norfolk Southern by 16.9% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator’s stock worth $71,000 after buying an additional 44 shares during the last quarter. CoreCap Advisors LLC grew its holdings in Norfolk Southern by 1.5% in the fourth quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator’s stock worth $727,000 after purchasing an additional 45 shares during the last quarter. Leavell Investment Management Inc. increased its position in shares of Norfolk Southern by 0.9% during the fourth quarter. Leavell Investment Management Inc. now owns 5,816 shares of the railroad operator’s stock worth $1,365,000 after purchasing an additional 50 shares in the last quarter. Shayne & Jacobs LLC lifted its holdings in shares of Norfolk Southern by 1.5% during the 4th quarter. Shayne & Jacobs LLC now owns 3,327 shares of the railroad operator’s stock valued at $781,000 after purchasing an additional 50 shares during the last quarter. Finally, Malaga Cove Capital LLC boosted its position in shares of Norfolk Southern by 2.1% in the 4th quarter. Malaga Cove Capital LLC now owns 2,451 shares of the railroad operator’s stock worth $575,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

NSC has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft started coverage on Norfolk Southern in a report on Friday, March 7th. They set a “buy” rating and a $293.00 target price for the company. Barclays decreased their price objective on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. BMO Capital Markets reiterated a “market perform” rating and issued a $255.00 price objective on shares of Norfolk Southern in a research note on Thursday, April 24th. Finally, Susquehanna reduced their target price on shares of Norfolk Southern from $260.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $267.24.

Norfolk Southern Stock Performance

NYSE:NSC opened at $247.66 on Thursday. Norfolk Southern Co. has a twelve month low of $201.63 and a twelve month high of $277.60. 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 company has a market cap of $55.83 billion, a P/E ratio of 21.42, a P/E/G ratio of 2.31 and a beta of 1.30. The company’s 50-day moving average price is $228.95 and its 200-day moving average price is $240.90.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.03). The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.49 earnings per share. On average, sell-side analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were given a $1.35 dividend. The ex-dividend date was Friday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.18%. Norfolk Southern’s payout ratio is 36.89%.

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.