Norfolk Southern Corporation (NYSE:NSC) Shares Acquired by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its stake in Norfolk Southern Corporation by 1.1%, owning approximately $68.71 million worth of shares by the end of the first quarter.
• Norfolk Southern recently reported earnings of $3.29 per share, exceeding the consensus estimate, and announced a quarterly dividend of $1.35 per share with a yield of 1.9%.
• Analysts have mixed views on Norfolk Southern, with a majority rating it as a "hold" while adjusting price targets, including Citigroup raising it from $288 to $305.

HighTower Advisors LLC raised its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 290,095 shares of the railroad operator's stock after buying an additional 3,158 shares during the period. HighTower Advisors LLC owned about 0.13% of Norfolk Southern worth $68,709,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in shares of Norfolk Southern in the 4th quarter worth $28,000. Putney Financial Group LLC bought a new position in shares of Norfolk Southern during the 4th quarter valued at $30,000. Greenline Partners LLC bought a new position in shares of Norfolk Southern during the 4th quarter valued at $31,000. HWG Holdings LP bought a new position in shares of Norfolk Southern during the 1st quarter valued at $35,000. Finally, Physician Wealth Advisors Inc. grew its holdings in shares of Norfolk Southern by 129.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Performance

Shares of NSC traded down $1.64 during trading hours on Friday, hitting $280.86. The stock had a trading volume of 1,939,854 shares, compared to its average volume of 3,210,820. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. The firm has a 50-day moving average price of $266.84 and a 200 day moving average price of $246.75. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $288.11. The firm has a market capitalization of $63.09 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.51 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued 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. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. As a group, research analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 1st will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern's dividend payout ratio is currently 36.49%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group increased their target price on shares of Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a report on Friday, May 30th. Bank of America raised their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Sanford C. Bernstein raised their price target on shares of Norfolk Southern from $295.00 to $305.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Jefferies Financial Group reissued a "hold" rating and issued a $300.00 price target on shares of Norfolk Southern in a report on Friday, July 25th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $278.00 price target on shares of Norfolk Southern in a report on Monday, June 2nd. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Norfolk Southern presently has an average rating of "Hold" and a consensus target price of $285.15.

About Norfolk Southern

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.