GAMMA Investing LLC Increases Stock Position in Norfolk Southern Co. (NYSE:NSC)

GAMMA Investing LLC boosted its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 25,555.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 989,796 shares of the railroad operator's stock after buying an additional 985,938 shares during the quarter. GAMMA Investing LLC owned 0.40% of Norfolk Southern worth $234,433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NSC. Brighton Jones LLC grew its stake in Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after purchasing an additional 79 shares in the last quarter. Strategic Blueprint LLC acquired a new position in shares of Norfolk Southern during the fourth quarter worth about $220,000. Crews Bank & Trust acquired a new position in shares of Norfolk Southern during the fourth quarter worth about $119,000. Caprock Group LLC purchased a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $1,796,000. Finally, Austin Private Wealth LLC acquired a new stake in Norfolk Southern in the fourth quarter valued at approximately $220,000. Hedge funds and other institutional investors own 75.10% of the company's stock.

Wall Street Analysts Forecast Growth

NSC has been the subject of several analyst reports. BMO Capital Markets reaffirmed a "market perform" rating and set a $255.00 price objective on shares of Norfolk Southern in a research report on Thursday, April 24th. Jefferies Financial Group lowered their price target on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Royal Bank of Canada dropped 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 note on Thursday, April 24th. The Goldman Sachs Group restated a "neutral" rating and set a $278.00 price objective on shares of Norfolk Southern in a research report on Monday. Finally, Susquehanna lowered their target price on shares of Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $267.24.

Norfolk Southern Stock Performance

Shares of NYSE:NSC traded up $0.64 on Wednesday, reaching $248.62. The company's stock had a trading volume of 604,803 shares, compared to its average volume of 1,220,222. Norfolk Southern Co. has a 52-week low of $201.63 and a 52-week high of $277.60. The stock has a market capitalization of $56.05 billion, a P/E ratio of 21.51, a PEG ratio of 2.31 and a beta of 1.30. The stock's 50-day moving average is $228.60 and its two-hundred day moving average is $240.86. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82.

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 for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the business posted $2.49 earnings per share. The firm's revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts forecast that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were paid a $1.35 dividend. The ex-dividend date was Friday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.17%. Norfolk Southern's dividend payout ratio is currently 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.