Bessemer Group Inc. Raises Stock Holdings in Norfolk Southern Corporation (NYSE:NSC)

Bessemer Group Inc. increased its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,012 shares of the railroad operator's stock after purchasing an additional 2,115 shares during the period. Bessemer Group Inc.'s holdings in Norfolk Southern were worth $4,267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vision Financial Markets LLC bought a new position in shares of Norfolk Southern in the 4th quarter worth $28,000. Fourth Dimension Wealth LLC purchased a new position in Norfolk Southern in the fourth quarter worth $28,000. Atlantic Private Wealth LLC bought a new position in Norfolk Southern in the fourth quarter valued at $29,000. Putney Financial Group LLC purchased a new stake in Norfolk Southern during the fourth quarter valued at about $30,000. Finally, Greenline Partners LLC bought a new stake in Norfolk Southern during the fourth quarter worth about $31,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NSC has been the topic of several recent research reports. BMO Capital Markets reiterated a "market perform" rating and set a $255.00 price objective on shares of Norfolk Southern in a research report on Thursday, April 24th. Royal Bank Of Canada reduced their price target on shares of Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Robert W. Baird initiated coverage on shares of Norfolk Southern in a report on Tuesday. They issued a "neutral" rating and a $255.00 price objective for the company. Evercore ISI cut their price objective on shares of Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Susquehanna reiterated a "neutral" rating and issued a $260.00 price objective (up previously from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Norfolk Southern currently has an average rating of "Moderate Buy" and an average price target of $267.00.

Norfolk Southern Stock Up 2.5%

Shares of NSC traded up $6.49 during trading hours on Tuesday, hitting $262.46. The company had a trading volume of 1,309,416 shares, compared to its average volume of 1,231,249. The stock has a market capitalization of $59.17 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 2.01 and a beta of 1.31. The firm has a fifty day moving average price of $241.74 and a 200-day moving average price of $239.31. 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 quick ratio of 0.70 and a current ratio of 0.78.

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 the consensus estimate of $2.72 by ($0.03). The firm 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 firm's quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $2.49 earnings per share. On average, equities research analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

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 $1.35 dividend. The ex-dividend date was Friday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.06%. Norfolk Southern's dividend payout ratio (DPR) is presently 36.89%.

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.