Longfellow Investment Management Co. LLC Buys 2,200 Shares of Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Longfellow Investment Management Co. LLC increased its stake in Norfolk Southern Corporation by 51.7%, acquiring an additional 2,200 shares to hold a total of 6,453 shares worth approximately $1.53 million.
• Norfolk Southern has seen substantial interest from institutional investors, with a reported 75.10% ownership of the stock, highlighted by Golden State Wealth Management's drastic 883.3% increase in shares during the first quarter.
• The company recently reported earnings of $3.29 per share for the quarter, surpassing analyst expectations, and announced a quarterly dividend of $1.35 per share, reflecting a 1.9% yield.

Longfellow Investment Management Co. LLC increased its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 51.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,453 shares of the railroad operator's stock after buying an additional 2,200 shares during the period. Longfellow Investment Management Co. LLC's holdings in Norfolk Southern were worth $1,528,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NSC. Fourth Dimension Wealth LLC bought a new position in shares of Norfolk Southern during the 4th quarter valued at approximately $28,000. Putney Financial Group LLC bought a new position in shares of Norfolk Southern during the 4th quarter valued at approximately $30,000. Greenline Partners LLC bought a new position in shares of Norfolk Southern during the 4th quarter valued at approximately $31,000. HWG Holdings LP purchased a new stake in shares of Norfolk Southern in the first quarter worth approximately $35,000. Finally, Physician Wealth Advisors Inc. raised its holdings in shares of Norfolk Southern by 129.2% in the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock worth $35,000 after buying an additional 84 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 1.4%

NSC traded up $3.81 during trading on Wednesday, hitting $282.05. 1,520,358 shares of the stock were exchanged, compared to its average volume of 3,252,115. 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 market cap of $63.35 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 2.47 and a beta of 1.31. The firm has a 50 day simple moving average of $265.52 and a 200 day simple moving average of $246.39. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $288.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its 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. The business had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. As a group, equities analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

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

Analyst Ratings Changes

NSC has been the topic of several recent analyst reports. Benchmark downgraded Norfolk Southern from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $278.00 price target on shares of Norfolk Southern in a report on Monday, June 2nd. Baird R W upgraded Norfolk Southern to a "hold" rating in a report on Tuesday, July 1st. TD Cowen upgraded Norfolk Southern from a "hold" rating to a "buy" rating and increased their price target for the stock from $263.00 to $323.00 in a report on Monday, July 21st. Finally, Citigroup increased their price target on Norfolk Southern from $288.00 to $305.00 and gave the stock a "neutral" rating in a report on Wednesday, July 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.