Norfolk Southern Corporation (NYSE:NSC) Stock Holdings Increased by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management raised its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 151.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,941 shares of the railroad operator's stock after purchasing an additional 2,374 shares during the period. Hanson & Doremus Investment Management's holdings in Norfolk Southern were worth $933,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in Norfolk Southern during the 4th quarter valued at approximately $547,575,000. GAMMA Investing LLC increased its position in Norfolk Southern by 25,555.7% in the first quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator's stock worth $234,433,000 after buying an additional 985,938 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Norfolk Southern by 11.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator's stock valued at $2,020,318,000 after buying an additional 918,559 shares during the last quarter. Boston Partners boosted its holdings in shares of Norfolk Southern by 16.9% during the fourth quarter. Boston Partners now owns 4,020,392 shares of the railroad operator's stock valued at $945,385,000 after acquiring an additional 580,293 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position 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 worth $157,643,000 after acquiring an additional 501,053 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays reduced their target price on shares of Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Stifel Nicolaus reduced their price objective on Norfolk Southern from $265.00 to $247.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Bank of America raised their target price on Norfolk Southern from $267.00 to $280.00 and gave the company a "buy" rating in a research report on Friday, May 16th. The Goldman Sachs Group reiterated a "neutral" rating and set a $278.00 price target on shares of Norfolk Southern in a research report on Monday, June 2nd. Finally, Jefferies Financial Group decreased their price target on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $267.24.

Norfolk Southern Price Performance

Shares of NSC traded up $2.00 during trading hours on Thursday, hitting $252.42. 1,410,906 shares of the company were exchanged, compared to its average volume of 1,238,037. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.78 and a quick ratio of 0.70. The company has a market capitalization of $56.91 billion, a PE ratio of 17.24, a PEG ratio of 1.97 and a beta of 1.32. The firm has a fifty day simple moving average of $234.93 and a 200-day simple moving average of $239.62. 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 released its quarterly earnings results 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). The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.01 billion. Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. The company's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $2.49 EPS. As a group, sell-side analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were given a $1.35 dividend. The ex-dividend date was Friday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.14%. Norfolk Southern's dividend payout ratio (DPR) 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.