Spartan Wealth Advisory Services LLC Takes $1.96 Million Position in Norfolk Southern Corporation $NSC

Key Points

• Spartan Wealth Advisory Services opened a new position in Norfolk Southern during the first quarter, buying 6,814 shares valued at about $1.96 million.
• Institutional ownership remains high, with 75.10% of Norfolk Southern’s stock held by hedge funds and other institutional investors, and several firms recently increased their stakes.
• Wall Street’s view is mixed but mostly cautious: Norfolk Southern has a consensus Hold rating with an average price target of $329.35, even as some analysts raised targets and the company reported earnings that beat estimates.

Spartan Wealth Advisory Services LLC purchased a new position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,814 shares of the railroad operator's stock, valued at approximately $1,956,000.

Several other large investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC increased its position in Norfolk Southern by 80.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 435 shares of the railroad operator's stock worth $125,000 after purchasing an additional 194 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Norfolk Southern by 0.4% in the 1st quarter. California Public Employees Retirement System now owns 415,656 shares of the railroad operator's stock valued at $119,293,000 after buying an additional 1,520 shares during the period. Gryphon Financial Partners LLC lifted its holdings in shares of Norfolk Southern by 3.3% in the 1st quarter. Gryphon Financial Partners LLC now owns 2,540 shares of the railroad operator's stock valued at $729,000 after buying an additional 81 shares during the period. Assetmark Inc. boosted its stake in shares of Norfolk Southern by 2.3% in the first quarter. Assetmark Inc. now owns 5,306 shares of the railroad operator's stock valued at $1,523,000 after buying an additional 117 shares in the last quarter. Finally, Avalon Trust Co grew its holdings in Norfolk Southern by 61.0% during the first quarter. Avalon Trust Co now owns 1,056 shares of the railroad operator's stock worth $303,000 after acquiring an additional 400 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Weiss Ratings cut Norfolk Southern from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 27th. Wells Fargo & Company boosted their target price on shares of Norfolk Southern from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 8th. Wall Street Zen raised shares of Norfolk Southern from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Stephens upgraded shares of Norfolk Southern to a "hold" rating in a report on Wednesday, July 8th. Finally, Susquehanna raised their price objective on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Six analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. Based on data from MarketBeat, Norfolk Southern currently has a consensus rating of "Hold" and an average price target of $329.35.

Norfolk Southern Stock Performance

NYSE NSC opened at $340.24 on Friday. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $342.53. The company has a market capitalization of $76.42 billion, a P/E ratio of 28.66, a PEG ratio of 6.22 and a beta of 1.27. The business has a 50 day moving average price of $314.78 and a 200 day moving average price of $304.41. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.16. The firm had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.Norfolk Southern's revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.69 earnings per share. Sell-side analysts expect that Norfolk Southern Corporation will post 12.24 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern's payout ratio is 45.49%.

Norfolk Southern Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.

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