Mirador Capital Partners LP Acquires Shares of 1,788 Norfolk Southern Co. (NYSE:NSC)

Mirador Capital Partners LP bought a new position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,788 shares of the railroad operator's stock, valued at approximately $423,000.

A number of other hedge funds have also modified their holdings of the business. Brighton Jones LLC lifted its holdings in shares of Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after acquiring an additional 79 shares during the period. Strategic Blueprint LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $220,000. Caprock Group LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at $1,796,000. Austin Private Wealth LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at $220,000. Finally, Everett Harris & Co. CA increased its holdings in shares of Norfolk Southern by 4.8% during the 4th quarter. Everett Harris & Co. CA now owns 1,252 shares of the railroad operator's stock worth $294,000 after buying an additional 57 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

NSC traded up $2.89 during trading on Tuesday, hitting $248.15. The stock had a trading volume of 1,407,825 shares, compared to its average volume of 1,221,521. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 12 month low of $201.63 and a 12 month high of $277.60. The company has a 50 day simple moving average of $228.35 and a 200-day simple moving average of $240.81. The firm has a market cap of $55.94 billion, a PE ratio of 21.47, a P/E/G ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.03). The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Norfolk Southern's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.49 EPS. Analysts expect that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.18%. Norfolk Southern's dividend payout ratio is 36.89%.

Wall Street Analyst Weigh In

NSC has been the topic of a number of research reports. Citigroup cut their price objective on Norfolk Southern from $298.00 to $259.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Bank of America raised their price target on shares of Norfolk Southern from $267.00 to $280.00 and gave the company a "buy" rating in a report on Friday, May 16th. Jefferies Financial Group decreased their price objective on shares of Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. The Goldman Sachs Group reissued a "neutral" rating and issued a $278.00 target price on shares of Norfolk Southern in a research note on Monday. Finally, Wells Fargo & Company decreased their price target on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $267.24.

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.