Klingman & Associates LLC Buys New Position in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Klingman & Associates LLC has acquired a new stake in Norfolk Southern Corporation, purchasing 1,055 shares valued at approximately $250,000 in the first quarter.
• Norfolk Southern recently reported an earnings per share (EPS) of $3.29 for the quarter, surpassing analysts' expectations, and announced a quarterly dividend of $1.35.
• The stock has received mixed ratings from analysts, with the consensus rating as "Hold" and a target price of $285.15.

Klingman & Associates LLC bought a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,055 shares of the railroad operator's stock, valued at approximately $250,000.

Other large investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL grew its holdings in Norfolk Southern by 16.9% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator's stock worth $71,000 after acquiring an additional 44 shares in the last quarter. CoreCap Advisors LLC boosted its stake in Norfolk Southern by 1.5% during the 4th quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock worth $727,000 after purchasing an additional 45 shares during the period. Canandaigua National Trust Co of Florida grew its position in Norfolk Southern by 4.9% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock worth $226,000 after purchasing an additional 45 shares during the last quarter. Capital Investment Advisory Services LLC grew its position in Norfolk Southern by 1.8% during the 1st quarter. Capital Investment Advisory Services LLC now owns 2,556 shares of the railroad operator's stock worth $605,000 after purchasing an additional 45 shares during the last quarter. Finally, Certified Advisory Corp raised its position in Norfolk Southern by 1.0% during the 1st quarter. Certified Advisory Corp now owns 4,644 shares of the railroad operator's stock worth $1,100,000 after buying an additional 47 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated a "neutral" rating and set a $288.00 price objective (up previously from $282.00) on shares of Norfolk Southern in a research report on Wednesday, July 30th. Evercore ISI reiterated an "in-line" rating and set a $289.00 price target (up from $279.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. BMO Capital Markets reiterated a "market perform" rating and set a $255.00 price target on shares of Norfolk Southern in a report on Thursday, April 24th. Baird R W raised shares of Norfolk Southern to a "hold" rating in a research report on Tuesday, July 1st. Finally, UBS Group lifted their price target on shares of Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of "Hold" and a consensus price target of $285.15.

Norfolk Southern Stock Performance

NSC stock traded down $1.64 during trading on Friday, hitting $280.86. 1,939,854 shares of the company's stock traded hands, compared to its average volume of 3,210,820. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $288.11. The stock has a fifty day moving average price of $266.84 and a two-hundred day moving average price of $246.68. The stock has a market capitalization of $63.09 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 2.49 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $3.10 billion. As a group, equities analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

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

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.