Retirement Planning Co of New England Inc. acquired a new stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,340 shares of the railroad operator's stock, valued at approximately $317,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Norfolk Southern by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 20,089,164 shares of the railroad operator's stock valued at $4,714,927,000 after buying an additional 139,485 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Norfolk Southern by 11.9% in the fourth 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 last quarter. Geode Capital Management LLC grew its holdings in Norfolk Southern by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock worth $1,098,472,000 after acquiring an additional 113,648 shares in the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Norfolk Southern by 1.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 3,968,582 shares of the railroad operator's stock valued at $931,426,000 after purchasing an additional 75,865 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Norfolk Southern by 13.8% during the 4th quarter. FMR LLC now owns 3,073,933 shares of the railroad operator's stock worth $721,452,000 after purchasing an additional 371,589 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.
Norfolk Southern Price Performance
NSC stock opened at $269.78 on Friday. The firm has a market cap of $60.82 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 2.13 and a beta of 1.31. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.70 and a current ratio of 0.78. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $283.28. The stock has a 50-day simple moving average of $251.33 and a 200-day simple moving average of $241.42.
Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the business earned $2.49 EPS. The firm's revenue was down .4% compared to the same quarter last year. On average, equities analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.
Norfolk Southern Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were given a dividend of $1.35 per share. The ex-dividend date was Friday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.00%. Norfolk Southern's payout ratio is 36.89%.
Analysts Set New Price Targets
A number of analysts have weighed in on NSC shares. JPMorgan Chase & Co. raised their price target on Norfolk Southern from $272.00 to $282.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Robert W. Baird assumed coverage on Norfolk Southern in a report on Tuesday, July 1st. They issued a "neutral" rating and a $255.00 price target for the company. Evercore ISI reduced their price objective on shares of Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Barclays reduced their price target on shares of Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $278.00 price objective on shares of Norfolk Southern in a report on Monday, June 2nd. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $274.55.
View Our Latest Analysis on NSC
About Norfolk Southern
(
Free Report)
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.
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