Baker Avenue Asset Management LP Buys 1,681 Shares of Norfolk Southern Co. (NYSE:NSC)

Baker Avenue Asset Management LP lifted its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 5.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,275 shares of the railroad operator's stock after buying an additional 1,681 shares during the quarter. Baker Avenue Asset Management LP's holdings in Norfolk Southern were worth $7,810,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Financial Life Planners bought a new position in shares of Norfolk Southern in the fourth quarter worth approximately $27,000. Keystone Financial Group Inc. bought a new position in Norfolk Southern in the 4th quarter worth $27,000. Bank of Jackson Hole Trust purchased a new stake in Norfolk Southern in the 4th quarter worth $27,000. Vision Financial Markets LLC bought a new stake in Norfolk Southern during the fourth quarter valued at about $28,000. Finally, Atlantic Private Wealth LLC bought a new position in shares of Norfolk Southern in the fourth quarter worth about $29,000. 75.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on NSC shares. Stifel Nicolaus lowered their price target on Norfolk Southern from $265.00 to $247.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Citigroup cut their target price on shares of Norfolk Southern from $298.00 to $259.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Evercore ISI decreased their price target 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. Benchmark restated a "buy" rating and set a $285.00 price objective on shares of Norfolk Southern in a research report on Thursday, January 30th. Finally, Bank of America dropped their price target on Norfolk Southern from $292.00 to $272.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $266.10.

Norfolk Southern Price Performance

Shares of NSC stock opened at $224.28 on Friday. The stock has a 50 day moving average price of $227.96 and a 200 day moving average price of $243.93. The firm has a market capitalization of $50.56 billion, a P/E ratio of 19.40, a P/E/G ratio of 2.31 and a beta of 1.30. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. Norfolk Southern Co. has a 52-week low of $201.63 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). The company had revenue of $2.99 billion for 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 revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.49 earnings per share. As a group, sell-side analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Friday, May 2nd. Norfolk Southern's dividend payout ratio is presently 36.89%.

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.

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