Fisher Asset Management LLC Acquires 7,361 Shares of Norfolk Southern Corporation $NSC

Fisher Asset Management LLC raised its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 0.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,140,990 shares of the railroad operator’s stock after buying an additional 7,361 shares during the period. Fisher Asset Management LLC’s holdings in Norfolk Southern were worth $329,427,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPL Wealth Management LLC bought a new stake in Norfolk Southern during the third quarter valued at about $25,000. Westside Investment Management Inc. raised its holdings in Norfolk Southern by 207.1% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after acquiring an additional 58 shares during the period. GoalVest Advisory LLC raised its holdings in Norfolk Southern by 933.3% during the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after acquiring an additional 84 shares during the period. MMA Asset Management LLC bought a new stake in Norfolk Southern during the third quarter valued at about $28,000. Finally, BNP Paribas bought a new stake in Norfolk Southern during the second quarter valued at about $26,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Trading Down 0.3%

Shares of NYSE NSC opened at $313.72 on Monday. The business’s 50 day moving average is $300.62 and its two-hundred day moving average is $297.29. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. Norfolk Southern Corporation has a 1-year low of $236.37 and a 1-year high of $323.37. The stock has a market capitalization of $70.46 billion, a P/E ratio of 26.43, a PEG ratio of 5.81 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the firm posted $2.69 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts expect that Norfolk Southern Corporation will post 12.11 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s payout ratio is presently 45.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Sanford C. Bernstein reduced their target price on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Citigroup reaffirmed a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. UBS Group set a $327.00 target price on Norfolk Southern in a report on Thursday, May 7th. Weiss Ratings cut Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Finally, Susquehanna lifted their target price on Norfolk Southern from $305.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Six investment analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $319.83.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.