516,176 Shares in Norfolk Southern Corporation (NYSE:NSC) Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in Norfolk Southern Corporation, purchasing 516,176 shares worth approximately $122.3 million, representing about 0.23% of the company.
• Norfolk Southern recently announced a quarterly dividend of $1.35 per share, with an annualized yield of 1.9%, payable to investors of record on August 1st.
• Analysts' consensus rating for Norfolk Southern is a "Hold," with an average target price of $285.15, reflecting a mix of ratings from various institutions.

Nuveen LLC purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 516,176 shares of the railroad operator's stock, valued at approximately $122,256,000. Nuveen LLC owned approximately 0.23% of Norfolk Southern as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC bought a new stake in Norfolk Southern during the 4th quarter valued at approximately $28,000. Putney Financial Group LLC bought a new stake in Norfolk Southern during the 4th quarter valued at approximately $30,000. Greenline Partners LLC bought a new stake in Norfolk Southern during the 4th quarter valued at approximately $31,000. HWG Holdings LP bought a new stake in Norfolk Southern during the 1st quarter valued at approximately $35,000. Finally, Physician Wealth Advisors Inc. boosted its position in shares of Norfolk Southern by 129.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock worth $35,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Performance

Shares of NYSE:NSC traded down $1.64 on Friday, hitting $280.86. 1,939,854 shares of the company were exchanged, compared to its average volume of 3,210,820. The firm has a market capitalization of $63.09 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31. The stock's 50 day moving average price is $266.84 and its 200 day moving average price is $246.75. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $288.11. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, topping analysts' consensus estimates of $3.24 by $0.05. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. Sell-side analysts predict that Norfolk Southern Corporation will post 13 EPS for the current 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 paid a $1.35 dividend. 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 dividend payout ratio is 36.49%.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of analyst reports. Susquehanna reissued a "neutral" rating and issued a $260.00 price target (up from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Benchmark cut Norfolk Southern from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $288.00 price target (up from $282.00) on shares of Norfolk Southern in a research report on Wednesday, July 30th. The Goldman Sachs Group reissued a "neutral" rating and issued a $278.00 price target on shares of Norfolk Southern in a research report on Monday, June 2nd. Finally, TD Cowen raised Norfolk Southern from a "hold" rating to a "buy" rating and boosted their price target for the stock from $263.00 to $323.00 in a research report on Monday, July 21st. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $285.15.

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.