3Chopt Investment Partners LLC Invests $2.35 Million in Norfolk Southern Corporation (NYSE:NSC)

3Chopt Investment Partners LLC bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,916 shares of the railroad operator's stock, valued at approximately $2,349,000.

Other large investors also recently made changes to their positions in the company. Vision Financial Markets LLC acquired a new position in shares of Norfolk Southern during the fourth quarter valued at $28,000. Fourth Dimension Wealth LLC acquired a new stake in Norfolk Southern in the 4th quarter valued at approximately $28,000. Atlantic Private Wealth LLC acquired a new stake in Norfolk Southern in the 4th quarter valued at approximately $29,000. Putney Financial Group LLC bought a new position in Norfolk Southern in the fourth quarter valued at approximately $30,000. Finally, Greenline Partners LLC bought a new position in Norfolk Southern in the fourth quarter valued at approximately $31,000. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Performance

NYSE NSC traded up $0.38 on Friday, hitting $255.89. 1,905,810 shares of the company traded hands, compared to its average volume of 1,228,056. The company has a market capitalization of $57.69 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 2.01 and a beta of 1.32. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 1.15. The business's 50 day moving average price is $240.14 and its 200-day moving average price is $239.14. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last released 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). Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the business posted $2.49 EPS. Norfolk Southern's revenue was down .4% compared to the same quarter last year. Equities analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.11%. Norfolk Southern's dividend payout ratio (DPR) is 36.89%.

Wall Street Analysts Forecast Growth

NSC has been the subject of several analyst reports. Barclays dropped their price objective on Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $278.00 price objective on shares of Norfolk Southern in a research note on Monday, June 2nd. Bank of America lifted their price objective on Norfolk Southern from $267.00 to $280.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Royal Bank Of Canada cut their price objective on Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Norfolk Southern in a report on Friday, March 7th. They issued a "buy" rating and a $293.00 target price for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $267.71.

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.