Wealthfront Advisers LLC Increases Stock Position in Norfolk Southern Corporation (NYSE:NSC)

Wealthfront Advisers LLC raised its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 10.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,144 shares of the railroad operator's stock after buying an additional 952 shares during the period. Wealthfront Advisers LLC's holdings in Norfolk Southern were worth $2,403,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NSC. Fourth Dimension Wealth LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter worth $28,000. Putney Financial Group LLC bought a new stake in Norfolk Southern in the 4th quarter valued at $30,000. Greenline Partners LLC bought a new stake in Norfolk Southern in the 4th quarter valued at $31,000. HWG Holdings LP bought a new stake in Norfolk Southern in the 1st quarter valued at $35,000. Finally, Physician Wealth Advisors Inc. increased its holdings in Norfolk Southern by 129.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after acquiring an additional 84 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 2.7%

Norfolk Southern stock traded up $7.19 during trading hours on Friday, hitting $277.00. The company had a trading volume of 6,134,047 shares, compared to its average volume of 1,268,577. The firm has a market cap of $62.45 billion, a P/E ratio of 18.92, a P/E/G ratio of 2.27 and a beta of 1.31. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.70 and a current ratio of 0.78. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $280.00. The company has a 50-day moving average price of $252.39 and a two-hundred day moving average price of $241.76.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly 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). Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the firm posted $2.49 EPS. The company's revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 1.95%. Norfolk Southern's dividend payout ratio (DPR) is presently 36.89%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays reduced their price target on shares of Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Bank of America lifted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday. Sanford C. Bernstein lifted their price objective on shares of Norfolk Southern from $258.00 to $295.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. UBS Group lifted their price objective on shares of Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Finally, 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. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $274.55.

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.