44 Wealth Management LLC Takes $398,000 Position in Norfolk Southern Corporation (NYSE:NSC)

44 Wealth Management LLC acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,680 shares of the railroad operator's stock, valued at approximately $398,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NSC. Geode Capital Management LLC boosted its position in Norfolk Southern by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock valued at $1,098,472,000 after buying an additional 113,648 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Norfolk Southern by 2.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock valued at $1,333,000 after acquiring an additional 128 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in shares of Norfolk Southern by 1.9% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator's stock valued at $846,000 after acquiring an additional 65 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Norfolk Southern by 4.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator's stock valued at $16,925,000 after acquiring an additional 2,782 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Norfolk Southern by 883.3% in the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock valued at $42,000 after acquiring an additional 159 shares during the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Shares of NYSE NSC traded down $2.49 during midday trading on Monday, hitting $260.01. The stock had a trading volume of 860,172 shares, compared to its average volume of 1,236,867. The stock has a 50 day simple moving average of $244.83 and a 200-day simple moving average of $240.00. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $58.62 billion, a PE ratio of 17.76, a P/E/G ratio of 2.13 and a beta of 1.31. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.03). The business had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $3.01 billion. Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. The business's quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $2.49 earnings per share. On average, sell-side analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.08%. Norfolk Southern's payout ratio is 36.89%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NSC shares. BMO Capital Markets restated a "market perform" rating and issued a $255.00 target price on shares of Norfolk Southern in a research note on Thursday, April 24th. Robert W. Baird initiated coverage on Norfolk Southern in a research report on Tuesday, July 1st. They issued a "neutral" rating and a $255.00 price objective on the stock. The Goldman Sachs Group restated a "neutral" rating and issued a $278.00 price objective on shares of Norfolk Southern in a research report on Monday, June 2nd. Baird R W raised shares of Norfolk Southern to a "hold" rating in a report on Tuesday, July 1st. Finally, 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $267.48.

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.