ProShare Advisors LLC Grows Position in Norfolk Southern Co. (NYSE:NSC)

ProShare Advisors LLC grew its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 14.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,928 shares of the railroad operator's stock after purchasing an additional 4,281 shares during the quarter. ProShare Advisors LLC's holdings in Norfolk Southern were worth $7,728,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Financial Life Planners bought a new stake in Norfolk Southern during the 4th quarter valued at $27,000. Keystone Financial Group Inc. bought a new position in Norfolk Southern in the 4th quarter worth about $27,000. Bank of Jackson Hole Trust bought a new position in Norfolk Southern in the 4th quarter worth about $27,000. Vision Financial Markets LLC bought a new stake in shares of Norfolk Southern during the fourth quarter valued at about $28,000. Finally, Atlantic Private Wealth LLC bought a new stake in shares of Norfolk Southern during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Down 1.9%

Shares of NSC stock traded down $4.61 during trading hours on Wednesday, reaching $239.47. The company's stock had a trading volume of 1,398,546 shares, compared to its average volume of 1,210,470. 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 one year low of $201.63 and a one year high of $277.60. The stock has a market capitalization of $53.99 billion, a P/E ratio of 20.72, a P/E/G ratio of 2.31 and a beta of 1.30. The firm's fifty day simple moving average is $226.79 and its 200 day simple moving average is $242.38.

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

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Friday, May 2nd. Norfolk Southern's payout ratio is 36.89%.

Analyst Ratings Changes

A number of equities analysts have recently commented on NSC shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They issued a "buy" rating and a $293.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Loop Capital lowered shares of Norfolk Southern from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Robert W. Baird increased their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company decreased their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $266.50.

Norfolk Southern 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.