First American Trust FSB Takes $214,000 Position in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• First American Trust FSB has acquired a new stake in Norfolk Southern Corporation, purchasing 904 shares valued at approximately $214,000 in the first quarter of the year.
• Norfolk Southern reported earnings of $3.29 per share, exceeding the analysts' expectations of $3.24, with a revenue of $3.11 billion for the last quarter.
• The company announced a quarterly dividend of $1.35 per share, representing an annualized dividend yield of 1.9%, with the payment date set for August 20th.

First American Trust FSB bought a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 904 shares of the railroad operator's stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NSC. Brighton Jones LLC raised its stake in Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after buying an additional 79 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Norfolk Southern by 1.6% in the fourth quarter. Bessemer Group Inc. now owns 15,897 shares of the railroad operator's stock worth $3,732,000 after purchasing an additional 255 shares during the last quarter. Townsquare Capital LLC boosted its holdings in Norfolk Southern by 24.0% in the fourth quarter. Townsquare Capital LLC now owns 6,275 shares of the railroad operator's stock worth $1,473,000 after purchasing an additional 1,216 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new stake in Norfolk Southern in the fourth quarter worth approximately $695,000. Finally, SageView Advisory Group LLC boosted its stake in shares of Norfolk Southern by 1.4% during the 4th quarter. SageView Advisory Group LLC now owns 4,665 shares of the railroad operator's stock worth $1,095,000 after acquiring an additional 66 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Up 1.4%

Norfolk Southern stock traded up $3.81 during mid-day trading on Wednesday, hitting $282.05. The stock had a trading volume of 1,520,358 shares, compared to its average volume of 3,252,115. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $288.11. The stock has a market capitalization of $63.35 billion, a PE ratio of 19.06, a P/E/G ratio of 2.47 and a beta of 1.31. The stock has a 50-day simple moving average of $265.52 and a two-hundred day simple moving average of $246.39.

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

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 1st will be given a dividend of $1.35 per share. The ex-dividend date is Friday, August 1st. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern's dividend payout ratio is presently 36.49%.

Wall Street Analyst Weigh In

NSC has been the topic of a number of research reports. Royal Bank Of Canada downgraded shares of Norfolk Southern from a "moderate buy" rating to a "hold" rating in a report on Tuesday, July 29th. TD Cowen raised shares of Norfolk Southern from a "hold" rating to a "buy" rating and lifted their price target for the stock from $263.00 to $323.00 in a research note on Monday, July 21st. Barclays boosted their price objective on shares of Norfolk Southern from $290.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Evercore ISI restated an "in-line" rating and issued a $289.00 price target (up previously from $279.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. Finally, Bank of America upped their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $285.15.

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.