DekaBank Deutsche Girozentrale Buys 17,316 Shares of Norfolk Southern Corporation (NYSE:NSC)

DekaBank Deutsche Girozentrale lifted its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 21.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,621 shares of the railroad operator's stock after acquiring an additional 17,316 shares during the period. DekaBank Deutsche Girozentrale's holdings in Norfolk Southern were worth $22,128,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Fourth Dimension Wealth LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter worth approximately $28,000. Atlantic Private Wealth LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter worth $29,000. Putney Financial Group LLC acquired a new stake in Norfolk Southern during the 4th quarter worth about $30,000. Greenline Partners LLC acquired a new stake in Norfolk Southern during the 4th quarter worth about $31,000. Finally, HWG Holdings LP purchased a new position in shares of Norfolk Southern during the 1st quarter valued at about $35,000. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Up 1.3%

Shares of NSC stock traded up $3.47 during trading hours on Friday, hitting $266.61. 1,065,492 shares of the company were exchanged, compared to its average volume of 1,292,615. 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 Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $277.60. The company has a 50 day simple moving average of $247.14 and a two-hundred day simple moving average of $240.47. The firm has a market cap of $60.11 billion, a P/E ratio of 18.21, a P/E/G ratio of 2.12 and a beta of 1.31.

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 analysts' consensus estimates of $2.72 by ($0.03). The company had revenue of $2.99 billion for 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 quarter last year, the business posted $2.49 EPS. Equities analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Friday, May 2nd. Norfolk Southern's payout ratio is 36.89%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. BMO Capital Markets reiterated a "market perform" rating and set a $255.00 price objective on shares of Norfolk Southern in a research note on Thursday, April 24th. Jefferies Financial Group lowered their target price on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. UBS Group upped their price objective on Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Susquehanna reissued a "neutral" rating and set a $260.00 target price (up from $250.00) on shares of Norfolk Southern in a research note on Tuesday, June 24th. Finally, Stifel Nicolaus dropped their price objective on Norfolk Southern from $265.00 to $247.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $273.80.

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.