Toronto Dominion Bank Purchases 27,831 Shares of Norfolk Southern Co. (NYSE:NSC)

Toronto Dominion Bank increased its position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 34.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,128 shares of the railroad operator's stock after purchasing an additional 27,831 shares during the quarter. Toronto Dominion Bank's holdings in Norfolk Southern were worth $25,378,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Financial Life Planners acquired a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $27,000. Keystone Financial Group Inc. bought a new stake in Norfolk Southern during the 4th quarter worth approximately $27,000. Bank of Jackson Hole Trust bought a new stake in Norfolk Southern during the 4th quarter worth approximately $27,000. Vision Financial Markets LLC acquired a new stake in Norfolk Southern during the 4th quarter valued at $28,000. Finally, Fourth Dimension Wealth LLC bought a new position in Norfolk Southern in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NSC. Benchmark restated a "buy" rating and issued a $285.00 target price on shares of Norfolk Southern in a research note on Thursday, January 30th. Citigroup lowered 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 report on Tuesday, April 8th. Jefferies Financial Group reduced their target price on shares of Norfolk Southern from $285.00 to $260.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Evercore ISI dropped their target price on Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, Barclays decreased their price target on Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $266.50.

Norfolk Southern Trading Down 0.9%

NSC stock traded down $2.32 during midday trading on Wednesday, hitting $242.47. 1,069,968 shares of the company's stock were exchanged, compared to its average volume of 1,212,072. Norfolk Southern Co. has a one year low of $201.63 and a one year high of $277.60. The stock's fifty day moving average price is $227.69 and its 200-day moving average price is $241.59. The company has a market cap of $54.66 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90.

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). The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.01 billion. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Norfolk Southern's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.49 earnings per share. Research analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were issued 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 2.23%. Norfolk Southern's payout ratio is 36.89%.

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.