Geneos Wealth Management Inc. Buys 54,907 Shares of Norfolk Southern Corporation $NSC

Key Points

• Geneos Wealth Management increased its Norfolk Southern stake by 56.3% in the first quarter, buying 54,907 additional shares and bringing its total holding to 152,404 shares worth about $43.7 million.
• Norfolk Southern reported better-than-expected quarterly earnings of $2.65 per share, beating estimates, though revenue came in below expectations at $3 billion.
• The railroad also paid a quarterly dividend of $1.35 per share and currently carries a consensus analyst rating of “Hold,” with an average price target of $328.00.

Geneos Wealth Management Inc. lifted its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 56.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 152,404 shares of the railroad operator's stock after purchasing an additional 54,907 shares during the period. Norfolk Southern comprises approximately 1.0% of Geneos Wealth Management Inc.'s portfolio, making the stock its 10th largest position. Geneos Wealth Management Inc. owned approximately 0.07% of Norfolk Southern worth $43,740,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPL Wealth Management LLC purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at about $25,000. BNP Paribas purchased a new position in Norfolk Southern during the second quarter worth about $26,000. GoalVest Advisory LLC lifted its holdings in shares of Norfolk Southern by 933.3% in the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator's stock valued at $27,000 after buying an additional 84 shares during the period. Meeder Asset Management Inc. lifted its holdings in Norfolk Southern by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator's stock valued at $27,000 after acquiring an additional 67 shares during the period. Finally, FNY Investment Advisers LLC boosted its holdings in Norfolk Southern by 669.2% during the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator's stock worth $30,000 after buying an additional 87 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 0.3%

NYSE:NSC opened at $327.89 on Thursday. The company has a market cap of $73.64 billion, a PE ratio of 27.62, a P/E/G ratio of 5.97 and a beta of 1.27. The business's 50 day moving average is $313.74 and its two-hundred day moving average is $303.83. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. Norfolk Southern Corporation has a 52 week low of $257.49 and a 52 week high of $329.38.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.49 by $0.16. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business's quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $2.69 EPS. On average, analysts predict that Norfolk Southern Corporation will post 12.24 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern's dividend payout ratio is 45.49%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NSC shares. Weiss Ratings cut Norfolk Southern from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 27th. Rothschild & Co Redburn lifted their price objective on Norfolk Southern from $308.00 to $315.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of Norfolk Southern from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Sanford C. Bernstein cut their price objective on Norfolk Southern from $322.00 to $313.00 and set an "outperform" rating on the stock in a report on Tuesday, March 31st. Finally, Wells Fargo & Company upped their price target on shares of Norfolk Southern from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company's stock. According to data from MarketBeat, Norfolk Southern currently has an average rating of "Hold" and a consensus price target of $328.00.

Norfolk Southern Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.

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