Adage Capital Partners GP L.L.C. Raises Stock Position in Norfolk Southern Co. (NYSE:NSC)

Adage Capital Partners GP L.L.C. raised its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 67.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 178,752 shares of the railroad operator's stock after acquiring an additional 72,298 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.08% of Norfolk Southern worth $41,953,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NSC. Morse Asset Management Inc bought a new position in Norfolk Southern in the third quarter worth $30,000. Wealthquest Corp purchased a new position in shares of Norfolk Southern in the third quarter worth approximately $216,000. Anchor Investment Management LLC lifted its position in shares of Norfolk Southern by 1.2% during the 3rd quarter. Anchor Investment Management LLC now owns 14,265 shares of the railroad operator's stock valued at $3,545,000 after buying an additional 170 shares in the last quarter. World Investment Advisors LLC raised its holdings in Norfolk Southern by 10.7% during the third quarter. World Investment Advisors LLC now owns 11,226 shares of the railroad operator's stock valued at $2,790,000 after acquiring an additional 1,089 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its position in shares of Norfolk Southern by 23.2% during the third quarter. Wilmington Savings Fund Society FSB now owns 56,256 shares of the railroad operator's stock worth $13,980,000 after acquiring an additional 10,593 shares during the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Norfolk Southern news, Director Gilbert H. Lamphere acquired 607 shares of the company's stock in a transaction on Friday, January 31st. The shares were acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Norfolk Southern Trading Down 0.8 %

NYSE:NSC traded down $1.84 during trading hours on Wednesday, hitting $221.52. 264,378 shares of the stock were exchanged, compared to its average volume of 1,248,309. The company has a market capitalization of $54.62 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a twelve month low of $201.63 and a twelve month high of $277.60. The company's 50 day moving average is $229.29 and its two-hundred day moving average is $244.58.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the business posted $2.49 earnings per share. Norfolk Southern's revenue was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Friday, May 2nd. Norfolk Southern's dividend payout ratio is presently 36.89%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Evercore ISI reduced their target price on shares of Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus cut their target price on Norfolk Southern from $265.00 to $247.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Citigroup lowered their price target on shares of Norfolk Southern from $298.00 to $259.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Loop Capital downgraded Norfolk Southern from a "buy" rating to a "hold" rating and decreased their target price for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Norfolk Southern currently has an average rating of "Moderate Buy" and an average price target of $266.10.

Norfolk Southern 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.