Wealthfront Advisers LLC Acquires 5,616 Shares of Norfolk Southern Corporation $NSC

Key Points

• Wealthfront Advisers LLC increased its Norfolk Southern stake by 31% in the first quarter, buying 5,616 additional shares for a total holding of 23,715 shares worth about $6.8 million.
• Norfolk Southern reported Q1 earnings of $2.65 per share, beating analyst expectations, even as revenue came in slightly below estimates at $3.0 billion.
• The railroad company recently paid a quarterly dividend of $1.35 per share and has Wall Street leaning cautious, with a consensus analyst rating of Hold and an average price target of $329.35.

Wealthfront Advisers LLC increased its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 31.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 23,715 shares of the railroad operator's stock after buying an additional 5,616 shares during the quarter. Wealthfront Advisers LLC's holdings in Norfolk Southern were worth $6,806,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NSC. Vanguard Group Inc. grew its stake in shares of Norfolk Southern by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator's stock worth $6,012,836,000 after acquiring an additional 272,651 shares during the period. State Street Corp raised its holdings in shares of Norfolk Southern by 4.1% during the fourth quarter. State Street Corp now owns 9,710,549 shares of the railroad operator's stock valued at $2,803,630,000 after purchasing an additional 379,819 shares during the last quarter. Geode Capital Management LLC lifted its position in Norfolk Southern by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator's stock valued at $1,401,797,000 after purchasing an additional 36,205 shares during the period. Norges Bank purchased a new stake in Norfolk Southern in the fourth quarter worth approximately $1,084,701,000. Finally, Pentwater Capital Management LP boosted its holdings in Norfolk Southern by 9.8% in the fourth quarter. Pentwater Capital Management LP now owns 3,019,000 shares of the railroad operator's stock worth $871,646,000 after purchasing an additional 269,000 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Up 0.6%

Shares of NSC stock opened at $340.24 on Friday. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $342.53. The stock has a market cap of $76.42 billion, a P/E ratio of 28.66, a P/E/G ratio of 6.22 and a beta of 1.27. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a 50 day simple moving average of $314.78 and a two-hundred day simple moving average of $304.41.

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

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern's dividend payout ratio (DPR) is currently 45.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wolfe Research boosted their target price on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an "outperform" rating in a research note on Tuesday, April 7th. TD Cowen raised their price target on Norfolk Southern from $313.00 to $337.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Weiss Ratings lowered Norfolk Southern from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, April 27th. Susquehanna upped their price objective on Norfolk Southern from $337.00 to $360.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada lowered their target price on Norfolk Southern from $360.00 to $320.00 and set a "sector perform" rating on the stock in a report on Wednesday, June 24th. Six research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $329.35.

About Norfolk Southern

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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