Cullen Investment Group LTD. Takes $281,000 Position in Norfolk Southern Co. (NYSE:NSC)

Cullen Investment Group LTD. acquired a new stake in shares of Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,190 shares of the railroad operator’s stock, valued at approximately $281,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NSC. Provence Wealth Management Group purchased a new stake in shares of Norfolk Southern during the third quarter valued at $28,000. Exchange Traded Concepts LLC boosted its stake in shares of Norfolk Southern by 662.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after purchasing an additional 106 shares during the period. Worth Asset Management LLC purchased a new stake in Norfolk Southern in the first quarter worth about $30,000. Operose Advisors LLC purchased a new stake in Norfolk Southern in the third quarter worth about $32,000. Finally, Orion Capital Management LLC purchased a new stake in Norfolk Southern in the third quarter worth about $32,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Down 0.1 %

Shares of NYSE:NSC opened at $245.57 on Tuesday. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66. The firm has a market capitalization of $60.46 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 3.33 and a beta of 1.30. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.14. The business’s 50 day moving average price is $253.91 and its 200-day moving average price is $230.00.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.04). Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the business earned $3.42 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities research analysts forecast that Norfolk Southern Co. will post 12 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 2nd were given a dividend of $1.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.20%. Norfolk Southern’s dividend payout ratio (DPR) is 67.33%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NSC. JPMorgan Chase & Co. upped their price objective on shares of Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Benchmark boosted their target price on shares of Norfolk Southern from $250.00 to $277.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. TD Cowen boosted their target price on shares of Norfolk Southern from $236.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. Citigroup boosted their target price on shares of Norfolk Southern from $253.00 to $286.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Finally, Susquehanna reduced their target price on shares of Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and an average price target of $262.33.

About Norfolk Southern

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.