Duff & Phelps Investment Management Co. Purchases 5,473 Shares of Norfolk Southern Co. (NYSE:NSC)

Duff & Phelps Investment Management Co. boosted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,722 shares of the railroad operator’s stock after acquiring an additional 5,473 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Norfolk Southern were worth $24,754,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Provence Wealth Management Group bought a new position in shares of Norfolk Southern during the 3rd quarter valued at about $28,000. Exchange Traded Concepts LLC increased its position 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 worth $29,000 after acquiring an additional 106 shares in the last quarter. Operose Advisors LLC acquired a new stake in shares of Norfolk Southern during the third quarter worth $32,000. Orion Capital Management LLC acquired a new position in Norfolk Southern in the 3rd quarter worth $32,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Norfolk Southern during the 4th quarter worth about $32,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on NSC. Stifel Nicolaus upped their price objective on Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Citigroup raised their price target on shares of Norfolk Southern from $253.00 to $286.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Benchmark reissued a “buy” rating and set a $277.00 price target on shares of Norfolk Southern in a research report on Thursday, April 25th. Susquehanna decreased their price objective on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Finally, The Goldman Sachs Group upped their target price on Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $262.32.

Norfolk Southern Stock Performance

NSC stock traded down $9.50 during trading hours on Tuesday, hitting $231.94. 1,804,758 shares of the stock were exchanged, compared to its average volume of 1,297,782. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $52.40 billion, a P/E ratio of 38.86, a P/E/G ratio of 3.31 and a beta of 1.30. The company has a 50-day simple moving average of $251.61 and a two-hundred day simple moving average of $233.21.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data 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 return on equity of 19.61% and a net margin of 11.76%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the firm earned $3.32 EPS. Norfolk Southern’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, analysts forecast that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 3rd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio is currently 86.96%.

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.