Sone Capital Management LLC Makes New Investment in Norfolk Southern Co. (NYSE:NSC)

Sone Capital Management LLC bought a new position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,279 shares of the railroad operator's stock, valued at approximately $4,525,000.

A number of other large investors have also recently made changes to their positions in NSC. Park Avenue Securities LLC increased its position in shares of Norfolk Southern by 57.4% during the fourth quarter. Park Avenue Securities LLC now owns 6,149 shares of the railroad operator's stock valued at $1,443,000 after buying an additional 2,242 shares during the period. Merit Financial Group LLC grew its stake in Norfolk Southern by 21.6% during the fourth quarter. Merit Financial Group LLC now owns 8,982 shares of the railroad operator's stock valued at $2,108,000 after acquiring an additional 1,593 shares in the last quarter. Brooklyn Investment Group increased its holdings in Norfolk Southern by 9.6% during the 4th quarter. Brooklyn Investment Group now owns 1,510 shares of the railroad operator's stock worth $354,000 after acquiring an additional 132 shares during the period. HB Wealth Management LLC boosted its holdings in Norfolk Southern by 6.8% in the 4th quarter. HB Wealth Management LLC now owns 23,405 shares of the railroad operator's stock valued at $5,493,000 after purchasing an additional 1,486 shares during the period. Finally, Diversify Advisory Services LLC grew its position in shares of Norfolk Southern by 27.5% during the 4th quarter. Diversify Advisory Services LLC now owns 1,842 shares of the railroad operator's stock valued at $431,000 after purchasing an additional 397 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Up 0.3%

Norfolk Southern stock traded up $0.66 during trading hours on Friday, hitting $240.30. The stock had a trading volume of 1,413,294 shares, compared to its average volume of 1,279,914. The stock's 50-day moving average price is $227.02 and its 200-day moving average price is $242.31. Norfolk Southern Co. has a 12-month low of $201.63 and a 12-month high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $54.17 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.03). The business 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 revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.49 earnings per share. Equities research analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank of Canada cut their price objective on Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Susquehanna dropped their price objective on shares of Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Jefferies Financial Group cut their target price on shares of Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company reduced their price target 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 analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.