Ieq Capital LLC Has $2.12 Million Stock Position in Norfolk Southern Co. (NYSE:NSC)

Ieq Capital LLC lifted its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 82.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,957 shares of the railroad operator's stock after purchasing an additional 4,043 shares during the quarter. Ieq Capital LLC's holdings in Norfolk Southern were worth $2,117,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of NSC. Provence Wealth Management Group acquired a new position in Norfolk Southern in the third quarter valued at approximately $28,000. Exchange Traded Concepts LLC raised its stake in shares of Norfolk Southern by 662.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator's stock worth $29,000 after buying an additional 106 shares during the period. Operose Advisors LLC purchased a new stake in Norfolk Southern in the 3rd quarter valued at $32,000. Orion Capital Management LLC purchased a new stake in Norfolk Southern in the 3rd quarter valued at $32,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Norfolk Southern during the 4th quarter worth $32,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NSC shares. BMO Capital Markets lowered their price target on Norfolk Southern from $250.00 to $245.00 and set a "market perform" rating for the company in a report on Monday, January 29th. Barclays lowered their target price on Norfolk Southern from $305.00 to $275.00 and set an "overweight" rating for the company in a research note on Monday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $270.00 price objective on shares of Norfolk Southern in a research report on Wednesday, April 10th. Loop Capital lifted their price objective on shares of Norfolk Southern from $261.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, April 18th. Finally, Jefferies Financial Group started coverage on shares of Norfolk Southern in a research report on Monday, April 8th. They set a "buy" rating and a $300.00 price objective for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $260.74.

Norfolk Southern Stock Performance

Shares of NYSE:NSC traded down $1.04 during midday trading on Tuesday, hitting $229.94. The stock had a trading volume of 1,739,779 shares, compared to its average volume of 1,382,989. The company has a market capitalization of $51.95 billion, a PE ratio of 37.04, a P/E/G ratio of 3.23 and a beta of 1.30. The stock has a 50 day moving average price of $246.75 and a two-hundred day moving average price of $235.51. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its 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). The firm had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The firm's revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.32 EPS. As a group, equities analysts predict that Norfolk Southern Co. will post 11.62 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, May 2nd. Norfolk Southern's payout ratio is 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.