Ninepoint Partners LP Invests $1.25 Million in Norfolk Southern Corporation (NYSE:NSC)

Ninepoint Partners LP bought a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,285 shares of the railroad operator's stock, valued at approximately $1,252,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL boosted its holdings in shares of 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 buying an additional 44 shares during the period. CoreCap Advisors LLC grew its position in shares of Norfolk Southern by 1.5% in the fourth quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock valued at $727,000 after purchasing an additional 45 shares during the last quarter. Canandaigua National Trust Co of Florida increased its stake in shares of Norfolk Southern by 4.9% in the first 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 period. Capital Investment Advisory Services LLC boosted its stake 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 valued at $605,000 after purchasing an additional 45 shares during the period. Finally, Malaga Cove Capital LLC grew its holdings in Norfolk Southern by 2.1% in the 4th quarter. Malaga Cove Capital LLC now owns 2,451 shares of the railroad operator's stock valued at $575,000 after buying an additional 50 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NSC shares. Robert W. Baird upped their price target on Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Baird R W upgraded shares of Norfolk Southern to a "hold" rating in a research note on Tuesday, July 1st. Jefferies Financial Group reissued a "hold" rating and issued a $300.00 price target on shares of Norfolk Southern in a report on Friday. Royal Bank Of Canada cut their price objective on shares of Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, Barclays decreased their target price on Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Norfolk Southern currently has an average rating of "Moderate Buy" and an average price target of $282.50.

Norfolk Southern Stock Up 1.7%

NYSE:NSC traded up $4.73 on Friday, hitting $282.73. 4,530,281 shares of the company's stock were exchanged, compared to its average volume of 1,849,920. 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 firm has a 50-day moving average price of $256.17 and a 200-day moving average price of $243.27. The company has a market cap of $63.74 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 2.31 and a beta of 1.31. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $288.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing the consensus estimate 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 quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.49 EPS. As a group, analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, August 1st. Norfolk Southern's dividend payout ratio (DPR) is presently 36.89%.

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.