1,121 Shares in Norfolk Southern Corporation (NYSE:NSC) Bought by Garrett Wealth Advisory Group LLC

Garrett Wealth Advisory Group LLC bought a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,121 shares of the railroad operator's stock, valued at approximately $266,000.

A number of other large investors have also recently made changes to their positions in NSC. Norges Bank purchased a new position in Norfolk Southern in the 4th quarter worth approximately $547,575,000. GAMMA Investing LLC lifted its holdings in Norfolk Southern by 25,555.7% in the 1st quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator's stock worth $234,433,000 after purchasing an additional 985,938 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Norfolk Southern by 11.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator's stock worth $2,020,318,000 after purchasing an additional 918,559 shares in the last quarter. Boston Partners lifted its holdings in Norfolk Southern by 16.9% in the 4th quarter. Boston Partners now owns 4,020,392 shares of the railroad operator's stock worth $945,385,000 after purchasing an additional 580,293 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Norfolk Southern by 293.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator's stock worth $157,643,000 after purchasing an additional 501,053 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 0.5%

Norfolk Southern stock traded up $1.34 during mid-day trading on Tuesday, hitting $261.33. The company's stock had a trading volume of 1,222,142 shares, compared to its average volume of 1,236,769. The company has a 50 day moving average of $244.83 and a 200-day moving average of $240.00. The stock has a market cap of $58.92 billion, a PE ratio of 17.85, a P/E/G ratio of 2.13 and a beta of 1.31. 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 one year low of $201.63 and a one year high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the company earned $2.49 EPS. The business's revenue was down .4% compared to the same quarter last year. On average, research analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, May 2nd. Norfolk Southern's dividend payout ratio (DPR) is currently 36.89%.

Analyst Ratings Changes

A number of research firms have issued reports on NSC. Robert W. Baird began coverage on Norfolk Southern in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $255.00 price objective on the stock. Sanford C. Bernstein lifted their price objective on Norfolk Southern from $258.00 to $295.00 and gave the stock an "outperform" rating in a research note on Tuesday. Jefferies Financial Group reduced their price objective on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $255.00 price objective on shares of Norfolk Southern in a research note on Thursday, April 24th. Finally, Bank of America lifted their price objective on Norfolk Southern from $280.00 to $290.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $267.71.

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.