Cetera Investment Advisers Boosts Stock Position in Norfolk Southern Corporation (NYSE:NSC)

Cetera Investment Advisers raised its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 17.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 66,804 shares of the railroad operator’s stock after acquiring an additional 9,818 shares during the period. Cetera Investment Advisers’ holdings in Norfolk Southern were worth $15,823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NSC. GAMMA Investing LLC raised its stake in Norfolk Southern by 25,555.7% during the 1st quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator’s stock valued at $234,433,000 after acquiring an additional 985,938 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Norfolk Southern by 11.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator’s stock worth $2,020,318,000 after buying an additional 918,559 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Norfolk Southern by 293.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator’s stock worth $157,643,000 after buying an additional 501,053 shares in the last quarter. FMR LLC raised its stake in shares of Norfolk Southern by 13.8% during the 4th quarter. FMR LLC now owns 3,073,933 shares of the railroad operator’s stock worth $721,452,000 after buying an additional 371,589 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Norfolk Southern by 138.3% during the 4th quarter. Franklin Resources Inc. now owns 515,302 shares of the railroad operator’s stock worth $120,941,000 after buying an additional 299,096 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of analyst reports. Bank of America increased their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. UBS Group increased their target price on Norfolk Southern from $275.00 to $279.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. JPMorgan Chase & Co. increased their target price on Norfolk Southern from $272.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. BMO Capital Markets reissued a “market perform” rating and set a $255.00 target price on shares of Norfolk Southern in a research note on Thursday, April 24th. Finally, Baird R W raised Norfolk Southern to a “hold” rating in a research note on Tuesday, July 1st. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $282.50.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $286.66 on Tuesday. The business’s fifty day moving average price is $257.03 and its two-hundred day moving average price is $243.68. The stock has a market cap of $64.62 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 2.31 and a beta of 1.31. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.70 and a current ratio of 0.78. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $288.11.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, August 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.89%.

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.