Adage Capital Partners GP L.L.C. Purchases 72,298 Shares of Norfolk Southern Co. (NYSE:NSC)

Adage Capital Partners GP L.L.C. boosted its position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 67.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 178,752 shares of the railroad operator's stock after purchasing an additional 72,298 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.08% of Norfolk Southern worth $41,953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NSC. Principal Financial Group Inc. raised its position in Norfolk Southern by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator's stock valued at $63,417,000 after purchasing an additional 8,844 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Norfolk Southern by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock valued at $1,098,472,000 after buying an additional 113,648 shares during the last quarter. Caprock Group LLC acquired a new position in shares of Norfolk Southern during the fourth quarter worth approximately $1,796,000. Grandview Asset Management LLC bought a new position in Norfolk Southern in the 4th quarter valued at $918,000. Finally, Dorsey & Whitney Trust CO LLC increased its position in Norfolk Southern by 2.3% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock worth $1,333,000 after purchasing an additional 128 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

Norfolk Southern stock traded up $0.12 during mid-day trading on Monday, hitting $221.83. 958,723 shares of the company's stock traded hands, compared to its average volume of 1,253,471. The firm has a 50 day simple moving average of $230.35 and a two-hundred day simple moving average of $244.92. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The stock has a market cap of $54.69 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 2.31 and a beta of 1.30. Norfolk Southern Co. has a fifty-two week low of $201.63 and a fifty-two week high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the company earned $2.49 earnings per share. The business's quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts expect that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, May 2nd. Norfolk Southern's dividend payout ratio is currently 36.89%.

Insiders Place Their Bets

In other news, Director Gilbert H. Lamphere purchased 607 shares of the business's stock in a transaction dated Friday, January 31st. The stock was bought at an average price of $259.86 per share, with a total value of $157,735.02. Following the acquisition, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. The trade was a 32.29 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

NSC has been the topic of several recent research reports. Stephens raised their price target on Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Citigroup reduced their price target on shares of Norfolk Southern from $298.00 to $259.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They issued a "buy" rating and a $293.00 price objective for the company. Jefferies Financial Group reduced their target price on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Loop Capital cut shares of Norfolk Southern from a "buy" rating to a "hold" rating and reduced their price target for the company from $289.00 to $256.00 in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Norfolk Southern presently has an average rating of "Moderate Buy" and a consensus price target of $266.10.

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.