NewEdge Advisors LLC Raises Stock Position in Norfolk Southern Co. (NYSE:NSC)

NewEdge Advisors LLC raised its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 16.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,311 shares of the railroad operator's stock after buying an additional 2,596 shares during the period. NewEdge Advisors LLC's holdings in Norfolk Southern were worth $4,298,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Guggenheim Capital LLC lifted its position in Norfolk Southern by 0.6% during the fourth quarter. Guggenheim Capital LLC now owns 34,580 shares of the railroad operator's stock valued at $8,116,000 after purchasing an additional 210 shares in the last quarter. Dagco Inc. grew its stake in shares of Norfolk Southern by 3.6% during the 4th quarter. Dagco Inc. now owns 4,660 shares of the railroad operator's stock valued at $1,094,000 after acquiring an additional 160 shares during the period. Canada Post Corp Registered Pension Plan bought a new stake in Norfolk Southern during the 4th quarter worth approximately $7,325,000. XTX Topco Ltd purchased a new position in Norfolk Southern during the fourth quarter valued at approximately $249,000. Finally, Hanlon Investment Management Inc. bought a new stake in shares of Norfolk Southern during the 4th quarter valued at $219,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 2.1 %

NSC traded up $4.75 during trading hours on Thursday, reaching $226.70. 1,380,377 shares of the company's stock traded hands, compared to its average volume of 1,262,602. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average price of $231.67 and a 200 day moving average price of $245.20. Norfolk Southern Co. has a 52-week low of $201.63 and a 52-week high of $277.60. The firm has a market capitalization of $55.89 billion, a PE ratio of 19.61, a PEG ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. As a group, sell-side analysts predict that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders 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 2.38%. The ex-dividend date is Friday, May 2nd. Norfolk Southern's dividend payout ratio (DPR) is presently 46.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays decreased their price target on Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Bank of America cut their price objective on shares of Norfolk Southern from $292.00 to $272.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. Wells Fargo & Company cut their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Royal Bank of Canada dropped their price objective on shares of Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating for the company in a report on Thursday. Finally, 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $266.10.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere acquired 607 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, the director now directly owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company's stock.

About Norfolk Southern

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.