Norfolk Southern Co. (NYSE:NSC) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 435,465 shares of the railroad operator's stock after purchasing an additional 11,708 shares during the period. Rhumbline Advisers owned 0.19% of Norfolk Southern worth $103,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Financial Life Planners acquired a new stake in Norfolk Southern during the 4th quarter worth $27,000. Keystone Financial Group Inc. acquired a new stake in Norfolk Southern during the 4th quarter worth $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at about $27,000. Vision Financial Markets LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at about $28,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at about $28,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 0.3%

NSC traded down $0.72 during trading on Thursday, hitting $246.68. 1,043,967 shares of the company's stock were exchanged, compared to its average volume of 1,224,990. 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 1 year low of $201.63 and a 1 year high of $277.60. The stock has a 50 day moving average price of $229.14 and a 200 day moving average price of $240.80. The firm has a market cap of $55.61 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 2.31 and a beta of 1.32.

Norfolk Southern (NYSE:NSC - Get Free Report) last released 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 return on equity of 20.04% and a net margin of 21.63%. The business had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter in the prior year, the firm earned $2.49 earnings per share. Norfolk Southern's quarterly revenue was down .4% compared to the same quarter last year. As a group, analysts expect that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.19%. Norfolk Southern's payout ratio is currently 36.89%.

Wall Street Analysts Forecast Growth

NSC has been the topic of several analyst reports. Jefferies Financial Group lowered their target price on shares of Norfolk Southern from $285.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Barclays lowered their target price on shares of Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Citigroup reduced their price objective on shares of Norfolk Southern from $298.00 to $259.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $278.00 price objective on shares of Norfolk Southern in a research note on Monday. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $255.00 price objective on shares of Norfolk Southern in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $267.24.

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.