Dillon & Associates Inc. Increases Holdings in Norfolk Southern Corporation (NYSE:NSC)

Dillon & Associates Inc. lifted its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,294 shares of the railroad operator’s stock after buying an additional 1,831 shares during the period. Norfolk Southern comprises 1.7% of Dillon & Associates Inc.’s investment portfolio, making the stock its 19th largest position. Dillon & Associates Inc.’s holdings in Norfolk Southern were worth $11,446,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NSC. Fourth Dimension Wealth LLC bought a new position in Norfolk Southern during the 4th quarter worth approximately $28,000. Putney Financial Group LLC bought a new position in Norfolk Southern during the 4th quarter worth approximately $30,000. Greenline Partners LLC bought a new position in Norfolk Southern during the 4th quarter worth approximately $31,000. HWG Holdings LP bought a new position in Norfolk Southern during the 1st quarter worth approximately $35,000. Finally, Physician Wealth Advisors Inc. grew its position in shares of Norfolk Southern by 129.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator’s stock worth $35,000 after buying an additional 84 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Down 0.2%

Norfolk Southern stock opened at $279.82 on Monday. The stock has a market cap of $62.85 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $288.11. The stock has a fifty day moving average of $263.58 and a 200 day moving average of $245.76.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.05. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. As a group, sell-side analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 1st. Norfolk Southern’s payout ratio is currently 36.49%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NSC shares. Susquehanna reiterated a “neutral” rating and issued a $260.00 price objective (up from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Robert W. Baird lifted their price objective on Norfolk Southern from $255.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Sanford C. Bernstein lifted their price objective on Norfolk Southern from $295.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Benchmark lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $255.00 price objective on shares of Norfolk Southern in a research report on Thursday, April 24th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $285.15.

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.