Norfolk Southern Corporation (NYSE:NSC) Shares Acquired by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. has increased its holdings in Norfolk Southern Corporation by 132.2%, owning a total of 150,200 shares after acquiring an additional 85,520 shares in the first quarter.
• Norfolk Southern recently announced a quarterly dividend of $1.35 per share, with an annualized dividend yield of 1.88%.
• Analysts have mixed ratings for Norfolk Southern, with a consensus target price of $282.50 and a majority recommending a "buy" or "hold" stance on the stock.

Geneos Wealth Management Inc. raised its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 132.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 150,200 shares of the railroad operator's stock after purchasing an additional 85,520 shares during the period. Norfolk Southern makes up about 0.9% of Geneos Wealth Management Inc.'s investment portfolio, making the stock its 12th largest holding. Geneos Wealth Management Inc. owned 0.07% of Norfolk Southern worth $35,734,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Norfolk Southern by 25,555.7% during the first quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator's stock valued at $234,433,000 after purchasing an additional 985,938 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Norfolk Southern by 11.9% during the fourth 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 acquiring an additional 918,559 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Norfolk Southern by 293.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator's stock valued at $157,643,000 after buying an additional 501,053 shares during the last quarter. Phoenix Financial Ltd. bought a new position in shares of Norfolk Southern during the first quarter valued at approximately $110,209,000. Finally, FMR LLC grew its stake in Norfolk Southern by 13.8% in the fourth quarter. FMR LLC now owns 3,073,933 shares of the railroad operator's stock worth $721,452,000 after purchasing an additional 371,589 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of analyst reports. Barclays upped their target price on Norfolk Southern from $290.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday. Stifel Nicolaus reduced their target price 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $288.00 price target (up from $282.00) on shares of Norfolk Southern in a research report on Wednesday. BMO Capital Markets restated a "market perform" rating and set a $255.00 target price on shares of Norfolk Southern in a research report on Thursday, April 24th. Finally, Robert W. Baird raised their price target on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $285.15.

Norfolk Southern Trading Down 0.5%

NYSE NSC traded down $1.36 on Friday, reaching $275.29. The stock had a trading volume of 1,624,138 shares, compared to its average volume of 1,528,519. The firm has a market capitalization of $61.84 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 2.46 and a beta of 1.31. The company has a quick ratio of 0.70, a current ratio of 0.79 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 fifty day moving average price of $259.28 and a two-hundred day moving average price of $244.45.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly 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. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. As a group, sell-side analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 1st. Norfolk Southern's dividend payout ratio is presently 36.89%.

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.