Partnership Wealth Management LLC Purchases Shares of 8,035 Norfolk Southern Co. (NYSE:NSC)

Partnership Wealth Management LLC acquired a new position in Norfolk Southern Co. (NYSE:NSC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,035 shares of the railroad operator's stock, valued at approximately $1,890,000. Norfolk Southern makes up about 1.4% of Partnership Wealth Management LLC's investment portfolio, making the stock its 22nd biggest position.

Other large investors also recently made changes to their positions in the company. Mackenzie Financial Corp grew its stake in shares of Norfolk Southern by 7.0% during the third quarter. Mackenzie Financial Corp now owns 20,590 shares of the railroad operator's stock valued at $3,962,000 after purchasing an additional 1,342 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in shares of Norfolk Southern in the 3rd quarter valued at $863,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Norfolk Southern by 4.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,444 shares of the railroad operator's stock worth $4,814,000 after acquiring an additional 1,074 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in shares of Norfolk Southern by 5.4% during the third quarter. Summit Trail Advisors LLC now owns 1,446 shares of the railroad operator's stock valued at $285,000 after acquiring an additional 74 shares during the period. Finally, Peoples Bank KS acquired a new stake in Norfolk Southern in the third quarter worth about $99,000. Institutional investors own 75.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on NSC shares. Susquehanna cut their target price on shares of Norfolk Southern from $270.00 to $265.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 10th. UBS Group lowered their target price on shares of Norfolk Southern from $302.00 to $294.00 and set a "buy" rating for the company in a report on Thursday, April 25th. The Goldman Sachs Group raised their price target on Norfolk Southern from $252.00 to $283.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. Sanford C. Bernstein raised Norfolk Southern from a "market perform" rating to an "outperform" rating and set a $272.00 target price on the stock in a research note on Monday, January 22nd. Finally, Jefferies Financial Group began coverage on Norfolk Southern in a research report on Monday, April 8th. They set a "buy" rating and a $300.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $262.32.

Norfolk Southern Stock Performance

NSC stock traded up $3.96 during midday trading on Friday, reaching $230.29. 1,986,722 shares of the company were exchanged, compared to its average volume of 1,588,980. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The firm has a market capitalization of $52.02 billion, a price-to-earnings ratio of 37.08, a price-to-earnings-growth ratio of 3.23 and a beta of 1.30. The business has a 50-day moving average price of $247.31 and a two-hundred day moving average price of $234.84. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the company earned $3.32 earnings per share. The firm's revenue was down 4.1% compared to the same quarter last year. Equities research analysts forecast that Norfolk Southern Co. will post 11.62 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 3rd will be given a $1.35 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.34%. Norfolk Southern's payout ratio is presently 86.96%.

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.

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