Longfellow Investment Management Co. LLC Has $1.53 Million Stake in Norfolk Southern Corporation (NYSE:NSC)

Longfellow Investment Management Co. LLC lifted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 51.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,453 shares of the railroad operator’s stock after purchasing an additional 2,200 shares during the period. Longfellow Investment Management Co. LLC’s holdings in Norfolk Southern were worth $1,528,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its holdings in Norfolk Southern by 883.3% in the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock valued at $42,000 after buying an additional 159 shares during the period. Dynamic Advisor Solutions LLC lifted its holdings in Norfolk Southern by 1.9% in the first quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator’s stock valued at $846,000 after buying an additional 65 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Norfolk Southern by 4.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator’s stock valued at $16,925,000 after buying an additional 2,782 shares during the period. GAMMA Investing LLC lifted its holdings in Norfolk Southern by 8.3% in the first quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator’s stock valued at $990,000 after buying an additional 321 shares during the period. Finally, Brevan Howard Capital Management LP lifted its holdings in Norfolk Southern by 472.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 43,054 shares of the railroad operator’s stock valued at $10,105,000 after buying an additional 35,531 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Evercore ISI restated an “in-line” rating and issued a $289.00 price objective (up from $279.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. Sanford C. Bernstein increased their price objective on shares of Norfolk Southern from $295.00 to $305.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Barclays lifted their price target on shares of Norfolk Southern from $290.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. The Goldman Sachs Group reissued a “neutral” rating and issued a $278.00 price target on shares of Norfolk Southern in a report on Monday, June 2nd. Finally, Stifel Nicolaus decreased their price target on shares of Norfolk Southern from $265.00 to $247.00 and set a “hold” rating for the company in a report on Monday, April 14th. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $285.15.

Norfolk Southern Stock Down 0.2%

Norfolk Southern stock opened at $279.82 on Monday. The company has a market cap of $62.85 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $288.11. The company has a fifty day simple moving average of $263.58 and a 200 day simple moving average of $245.76. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11.

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

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st will be paid a $1.35 dividend. The ex-dividend date is Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is currently 36.49%.

Norfolk Southern 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.