Advisory Services Network LLC Has $2.93 Million Stock Position in Norfolk Southern Co. (NYSE:NSC)

Advisory Services Network LLC lifted its position in shares of Norfolk Southern Co. (NYSE:NSC) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,499 shares of the railroad operator’s stock after purchasing an additional 487 shares during the quarter. Advisory Services Network LLC’s holdings in Norfolk Southern were worth $2,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NSC. Greenland Capital Management LP bought a new position in Norfolk Southern in the fourth quarter worth $845,000. Renaissance Technologies LLC lifted its holdings in shares of Norfolk Southern by 168.3% during the 4th quarter. Renaissance Technologies LLC now owns 128,000 shares of the railroad operator’s stock worth $30,042,000 after acquiring an additional 80,300 shares during the period. Invesco Ltd. lifted its holdings in shares of Norfolk Southern by 8.1% during the 4th quarter. Invesco Ltd. now owns 1,912,486 shares of the railroad operator’s stock worth $448,861,000 after acquiring an additional 143,915 shares during the period. Bank of Montreal Can boosted its position in shares of Norfolk Southern by 0.9% during the 4th quarter. Bank of Montreal Can now owns 265,880 shares of the railroad operator’s stock valued at $62,402,000 after acquiring an additional 2,374 shares in the last quarter. Finally, Sierra Summit Advisors LLC acquired a new position in Norfolk Southern in the fourth quarter worth about $1,255,000. 75.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays decreased their price objective on Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Jefferies Financial Group decreased their price target on Norfolk Southern from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday. Benchmark reiterated a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a research note on Thursday, January 30th. Citigroup reduced their target price on shares of Norfolk Southern from $298.00 to $259.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $268.68.

Norfolk Southern Trading Down 2.9 %

NSC stock opened at $215.63 on Friday. The business has a fifty day moving average of $237.90 and a 200-day moving average of $246.89. The company has a market cap of $53.17 billion, a P/E ratio of 18.65, a PEG ratio of 2.31 and a beta of 1.30. Norfolk Southern Co. has a twelve month low of $201.63 and a twelve month high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. As a group, equities research analysts expect that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Insider Buying and Selling at Norfolk Southern

In related news, Director Gilbert H. Lamphere purchased 607 shares of the stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now directly owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

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.