Beck Bode LLC Buys New Position in Norfolk Southern Co. (NYSE:NSC)

Beck Bode LLC purchased a new position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 56,237 shares of the railroad operator's stock, valued at approximately $13,199,000. Norfolk Southern comprises approximately 2.4% of Beck Bode LLC's investment portfolio, making the stock its 23rd largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Financial Life Planners purchased a new stake in Norfolk Southern in the 4th quarter worth approximately $27,000. Keystone Financial Group Inc. acquired a new stake in shares of Norfolk Southern during the fourth quarter worth $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at $27,000. Vision Financial Markets LLC acquired a new position in Norfolk Southern in the fourth quarter valued at $28,000. Finally, Atlantic Private Wealth LLC purchased a new position in Norfolk Southern during the fourth quarter worth about $29,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NSC has been the subject of several recent analyst reports. BMO Capital Markets restated a "market perform" rating and issued a $255.00 price target on shares of Norfolk Southern in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Stifel Nicolaus cut their price target on shares of Norfolk Southern from $265.00 to $247.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Citigroup lowered their price objective 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. Finally, UBS Group cut their target price on Norfolk Southern from $284.00 to $275.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. One 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $266.10.

Norfolk Southern Stock Up 1.1 %

Shares of Norfolk Southern stock opened at $224.28 on Friday. Norfolk Southern Co. has a 1-year low of $201.63 and a 1-year high of $277.60. The company has a market capitalization of $50.56 billion, a PE 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 current ratio of 0.90 and a quick ratio of 0.82. The business has a 50-day moving average of $227.96 and a 200-day moving average of $243.93.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data 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). 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 analysts' expectations of $3.01 billion. During the same quarter in the prior year, the firm earned $2.49 earnings per share. Norfolk Southern's revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities analysts forecast that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.