Leavell Investment Management Inc. Increases Stake in Norfolk Southern Corporation (NYSE:NSC)

Leavell Investment Management Inc. increased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 5.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 6,127 shares of the railroad operator’s stock after acquiring an additional 311 shares during the quarter. Leavell Investment Management Inc.’s holdings in Norfolk Southern were worth $1,451,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fourth Dimension Wealth LLC acquired a new position in Norfolk Southern during the fourth quarter worth approximately $28,000. Atlantic Private Wealth LLC acquired a new position in Norfolk Southern during the fourth quarter worth approximately $29,000. Putney Financial Group LLC acquired a new position in Norfolk Southern during the fourth quarter worth approximately $30,000. Greenline Partners LLC acquired a new position in Norfolk Southern during the fourth quarter worth approximately $31,000. Finally, HWG Holdings LP acquired a new position in Norfolk Southern during the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NSC. Sanford C. Bernstein boosted their target price on Norfolk Southern from $258.00 to $295.00 and gave the company an “outperform” rating in a report on Tuesday. Robert W. Baird began coverage on Norfolk Southern in a report on Tuesday, July 1st. They issued a “neutral” rating and a $255.00 target price on the stock. Baird R W raised Norfolk Southern to a “hold” rating in a report on Tuesday, July 1st. The Goldman Sachs Group reissued a “neutral” rating and issued a $278.00 target price on shares of Norfolk Southern in a report on Monday, June 2nd. Finally, Evercore ISI dropped their target price on Norfolk Southern from $284.00 to $269.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $273.80.

Norfolk Southern Stock Up 1.2%

Norfolk Southern stock opened at $263.08 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.70 and a current ratio of 0.78. The firm has a market capitalization of $59.31 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $277.60. The stock’s fifty day moving average is $247.14 and its two-hundred day moving average is $240.47.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the company earned $2.49 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. Analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were given a dividend of $1.35 per share. The ex-dividend date was Friday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.05%. Norfolk Southern’s dividend payout ratio (DPR) 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.