Wealth Enhancement Advisory Services LLC Buys 23,918 Shares of Norfolk Southern Co. (NYSE:NSC)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 53.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 68,681 shares of the railroad operator's stock after purchasing an additional 23,918 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Norfolk Southern were worth $16,119,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Norfolk Southern in the fourth quarter valued at about $547,575,000. Price T Rowe Associates Inc. MD lifted its stake in Norfolk Southern by 11.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator's stock valued at $2,020,318,000 after acquiring an additional 918,559 shares in the last quarter. Boston Partners boosted its holdings in Norfolk Southern by 16.9% during the fourth quarter. Boston Partners now owns 4,020,392 shares of the railroad operator's stock worth $945,385,000 after purchasing an additional 580,293 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Norfolk Southern by 293.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator's stock valued at $157,643,000 after acquiring an additional 501,053 shares in the last quarter. Finally, Amundi raised its stake in shares of Norfolk Southern by 56.4% during the 4th quarter. Amundi now owns 1,302,635 shares of the railroad operator's stock worth $308,607,000 after purchasing an additional 469,558 shares in the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Performance

Shares of NSC stock traded down $1.77 during mid-day trading on Monday, reaching $245.35. 1,182,965 shares of the company's stock traded hands, compared to its average volume of 1,220,767. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The firm has a market capitalization of $55.31 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. Norfolk Southern Co. has a 12 month low of $201.63 and a 12 month high of $277.60. The firm has a 50 day moving average price of $228.16 and a two-hundred day moving average price of $240.92.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The firm's quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the business earned $2.49 EPS. On average, research analysts forecast that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.20%. Norfolk Southern's dividend payout ratio is presently 36.89%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NSC shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Norfolk Southern in a research note on Friday, March 7th. They set a "buy" rating and a $293.00 target price for the company. Loop Capital downgraded Norfolk Southern from a "buy" rating to a "hold" rating and reduced their target price for the company from $289.00 to $256.00 in a report on Monday, February 3rd. Jefferies Financial Group dropped their price objective on shares of Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Barclays lowered their price objective on Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Finally, Susquehanna lowered their price objective on Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $267.24.

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.