Allworth Financial LP Grows Stock Position in Norfolk Southern Corporation $NSC

Allworth Financial LP lifted its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 26.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,391 shares of the railroad operator’s stock after acquiring an additional 3,043 shares during the period. Allworth Financial LP’s holdings in Norfolk Southern were worth $4,155,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares during the period. Intech Investment Management LLC boosted its position in shares of Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after purchasing an additional 1,855 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at $327,000. Schnieders Capital Management LLC. boosted its position in shares of Norfolk Southern by 64.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock valued at $1,094,000 after purchasing an additional 1,670 shares during the period. Finally, Jump Financial LLC boosted its position in shares of Norfolk Southern by 185.1% in the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock valued at $1,174,000 after purchasing an additional 2,979 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

NSC opened at $316.85 on Friday. The firm has a market capitalization of $71.16 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 5.84 and a beta of 1.30. The stock’s 50 day moving average price is $299.40 and its two-hundred day moving average price is $296.01. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. Norfolk Southern Corporation has a 12-month low of $236.37 and a 12-month high of $323.37.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the company posted $2.69 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts forecast that Norfolk Southern Corporation will post 12.11 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Wall Street Analysts Forecast Growth

NSC has been the subject of several research analyst reports. Weiss Ratings downgraded Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Wolfe Research increased their price objective on Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. Zacks Research raised Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Susquehanna increased their price objective on Norfolk Southern from $305.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Finally, Sanford C. Bernstein reduced their price objective on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Six investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.