NorthCrest Asset Manangement LLC Increases Stake in Norfolk Southern Co. (NYSE:NSC)

NorthCrest Asset Manangement LLC grew its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,645 shares of the railroad operator's stock after purchasing an additional 1,530 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Norfolk Southern were worth $16,969,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NSC. Norges Bank purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at $547,575,000. GAMMA Investing LLC grew its stake in shares of Norfolk Southern by 25,555.7% during the 1st quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator's stock worth $234,433,000 after acquiring an additional 985,938 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Norfolk Southern by 11.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator's stock worth $2,020,318,000 after acquiring an additional 918,559 shares during the period. Boston Partners grew its stake in shares of Norfolk Southern by 16.9% during the 4th quarter. Boston Partners now owns 4,020,392 shares of the railroad operator's stock worth $945,385,000 after acquiring an additional 580,293 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Norfolk Southern by 293.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator's stock worth $157,643,000 after acquiring an additional 501,053 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NSC. Susquehanna cut their price target on Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. BMO Capital Markets reiterated a "market perform" rating and set a $255.00 price target on shares of Norfolk Southern in a research note on Thursday, April 24th. UBS Group increased their price target on Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Royal Bank of Canada cut their price target on Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Citigroup cut their target price on Norfolk Southern from $298.00 to $259.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $267.24.

Norfolk Southern Price Performance

Shares of NSC traded down $3.17 during trading hours on Friday, reaching $248.30. 916,879 shares of the company's stock traded hands, compared to its average volume of 1,234,234. The stock has a market cap of $55.98 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.31 and a beta of 1.32. 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 firm's 50 day simple moving average is $232.84 and its 200-day simple moving average is $239.87.

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

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were issued a dividend of $1.35 per share. The ex-dividend date was Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.17%. Norfolk Southern's dividend payout ratio is 36.89%.

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.