Cetera Investment Advisers Raises Position in Norfolk Southern Co. (NYSE:NSC)

Cetera Investment Advisers lifted its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,986 shares of the railroad operator's stock after purchasing an additional 5,833 shares during the quarter. Cetera Investment Advisers' holdings in Norfolk Southern were worth $13,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of NSC. Centiva Capital LP bought a new stake in shares of Norfolk Southern in the fourth quarter worth $747,000. Brevan Howard Capital Management LP grew its holdings in shares of Norfolk Southern by 472.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 43,054 shares of the railroad operator's stock worth $10,105,000 after acquiring an additional 35,531 shares during the period. Cary Street Partners Financial LLC bought a new stake in shares of Norfolk Southern in the fourth quarter worth $3,448,000. Chapman Financial Group LLC bought a new stake in shares of Norfolk Southern in the fourth quarter worth $73,000. Finally, Baird Financial Group Inc. grew its holdings in shares of Norfolk Southern by 0.6% in the fourth quarter. Baird Financial Group Inc. now owns 134,666 shares of the railroad operator's stock worth $31,606,000 after acquiring an additional 856 shares during the period. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC traded up $0.39 during mid-day trading on Wednesday, reaching $240.65. The stock had a trading volume of 1,456,459 shares, compared to its average volume of 1,210,067. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The company has a market cap of $54.25 billion, a P/E ratio of 20.82, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. Norfolk Southern Co. has a 1 year low of $201.63 and a 1 year high of $277.60. The business's 50 day moving average price is $225.89 and its 200 day moving average price is $242.66.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). The firm had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $3.01 billion. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Norfolk Southern's quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.49 earnings per share. Research analysts expect that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be given a $1.35 dividend. The ex-dividend date is Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.24%. Norfolk Southern's dividend payout ratio is currently 36.89%.

Analysts Set New Price Targets

Several brokerages recently commented on NSC. Barclays cut their price objective on Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Evercore ISI cut their price target on Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Stephens boosted their price target on Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Susquehanna cut their price target on Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, Citigroup cut their price target on Norfolk Southern from $298.00 to $259.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $266.10.

Norfolk Southern Company 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.