West Paces Advisors Inc. Increases Stock Position in Norfolk Southern Co. (NYSE:NSC)

West Paces Advisors Inc. increased its position in Norfolk Southern Co. (NYSE:NSC) by 953.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,636 shares of the railroad operator’s stock after purchasing an additional 6,911 shares during the quarter. West Paces Advisors Inc.’s holdings in Norfolk Southern were worth $1,809,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Jackson Hole Trust purchased a new position in shares of Norfolk Southern in the fourth quarter valued at $27,000. Vision Financial Markets LLC bought a new position in Norfolk Southern during the 4th quarter valued at $28,000. Fourth Dimension Wealth LLC bought a new position in Norfolk Southern during the 4th quarter valued at $28,000. Atlantic Private Wealth LLC bought a new position in Norfolk Southern during the 4th quarter valued at $29,000. Finally, Putney Financial Group LLC bought a new position in Norfolk Southern during the 4th quarter valued at $30,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on NSC shares. BMO Capital Markets reiterated a “market perform” rating and set a $255.00 price objective on shares of Norfolk Southern in a research note on Thursday, April 24th. Barclays reduced their price objective on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company reduced their price objective on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Bank of America increased their price objective on shares of Norfolk Southern from $267.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Finally, Evercore ISI dropped their target price on shares of Norfolk Southern from $284.00 to $269.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $267.24.

Norfolk Southern Trading Down 0.1%

Shares of NYSE:NSC opened at $250.56 on Tuesday. The company has a market cap of $56.49 billion, a PE ratio of 21.67, a P/E/G ratio of 2.31 and a beta of 1.32. The company’s 50-day moving average price is $229.66 and its 200 day moving average price is $240.32. Norfolk Southern Co. has a fifty-two week low of $201.63 and a fifty-two week high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.03). The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.49 earnings per share. Sell-side analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.16%. Norfolk Southern’s dividend payout ratio is presently 36.89%.

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.