Alps Advisors Inc. Purchases Shares of 1,530 Norfolk Southern Corporation (NYSE:NSC)

Alps Advisors Inc. purchased a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,530 shares of the railroad operator's stock, valued at approximately $362,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Fourth Dimension Wealth LLC purchased a new position in shares of Norfolk Southern in the 4th quarter worth about $28,000. Atlantic Private Wealth LLC purchased a new position in shares of Norfolk Southern in the 4th quarter worth about $29,000. Putney Financial Group LLC purchased a new position in shares of Norfolk Southern in the 4th quarter worth about $30,000. Greenline Partners LLC purchased a new position in shares of Norfolk Southern in the 4th quarter worth about $31,000. Finally, HWG Holdings LP purchased a new position in shares of Norfolk Southern in the 1st quarter worth about $35,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NSC traded up $7.88 during midday trading on Thursday, reaching $268.20. The stock had a trading volume of 1,615,338 shares, compared to its average volume of 1,241,753. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $277.60. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.78 and a quick ratio of 0.70. The firm's 50 day moving average price is $250.41 and its 200-day moving average price is $241.17. The company has a market capitalization of $60.46 billion, a P/E ratio of 18.31, a P/E/G ratio of 2.13 and a beta of 1.31.

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

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were given 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 dividend yield of 2.01%. Norfolk Southern's dividend payout ratio is presently 36.89%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NSC shares. Robert W. Baird started coverage on Norfolk Southern in a report on Tuesday, July 1st. They issued a "neutral" rating and a $255.00 price objective on the stock. Wells Fargo & Company cut their price objective on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Citigroup downgraded Norfolk Southern from a "buy" rating to a "neutral" rating and raised their target price for the company from $259.00 to $288.00 in a report on Wednesday, July 9th. Bank of America raised their target price on Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a report on Thursday. Finally, UBS Group raised their target price on Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a report on Friday, May 30th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $274.55.

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.