Dillon & Associates Inc. Has $11.45 Million Stake in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Dillon & Associates Inc. has increased its stake in Norfolk Southern Corporation to $11.45 million, representing a 3.9% increase with 48,294 shares now held.
• Norfolk Southern recently saw a mix of upgrades and downgrades from analysts, with target prices ranging from $263 to $323.
• The company declared a quarterly dividend of $1.35 per share with a yield of 1.9%, highlighting its consistent return to shareholders.

Dillon & Associates Inc. increased its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 3.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,294 shares of the railroad operator's stock after buying an additional 1,831 shares during the quarter. Norfolk Southern comprises approximately 1.7% of Dillon & Associates Inc.'s investment portfolio, making the stock its 19th biggest position. Dillon & Associates Inc.'s holdings in Norfolk Southern were worth $11,446,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NSC. Fourth Dimension Wealth LLC acquired a new stake in Norfolk Southern during the fourth quarter worth approximately $28,000. Putney Financial Group LLC acquired a new stake in Norfolk Southern during the fourth quarter worth approximately $30,000. Greenline Partners LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at $31,000. HWG Holdings LP acquired a new stake in shares of Norfolk Southern in the 1st quarter valued at $35,000. Finally, Physician Wealth Advisors Inc. boosted its holdings in shares of Norfolk Southern by 129.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company's stock.

Wall Street Analyst Weigh In

NSC has been the topic of a number of research analyst reports. TD Cowen raised Norfolk Southern from a "hold" rating to a "buy" rating and raised their target price for the company from $263.00 to $323.00 in a report on Monday, July 21st. Benchmark downgraded Norfolk Southern from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. Citigroup upped their target price on Norfolk Southern from $288.00 to $305.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. The Goldman Sachs Group reissued a "neutral" rating and issued a $278.00 price target on shares of Norfolk Southern in a research note on Monday, June 2nd. Finally, Bank of America boosted their price target on Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $285.15.

Norfolk Southern Stock Down 0.2%

Shares of NYSE NSC opened at $279.82 on Monday. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $288.11. The business has a 50-day simple moving average of $263.58 and a two-hundred day simple moving average of $245.76. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The company has a market cap of $62.85 billion, a P/E ratio of 18.91, a P/E/G ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, topping the consensus estimate of $3.24 by $0.05. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. Research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern's dividend payout ratio (DPR) is presently 36.49%.

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.

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