Whittier Trust Co. Purchases 10,895 Shares of Norfolk Southern Corporation $NSC

Whittier Trust Co. grew its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 215,176 shares of the railroad operator’s stock after buying an additional 10,895 shares during the period. Whittier Trust Co. owned 0.10% of Norfolk Southern worth $61,982,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPL Wealth Management LLC bought a new position in shares of Norfolk Southern in the 3rd quarter worth about $25,000. BNP Paribas bought a new stake in Norfolk Southern during the second quarter worth about $26,000. GoalVest Advisory LLC grew its holdings in Norfolk Southern by 933.3% in the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 84 shares during the period. Meeder Asset Management Inc. grew its holdings in Norfolk Southern by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 67 shares during the period. Finally, FNY Investment Advisers LLC increased its stake in shares of Norfolk Southern by 669.2% during the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Shares of NSC opened at $322.85 on Monday. The company has a market capitalization of $72.51 billion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 5.96 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $312.52 and a 200 day moving average of $302.01. Norfolk Southern Corporation has a twelve month low of $257.49 and a twelve month high of $326.00.

Norfolk Southern (NYSE:NSC) last released 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. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.69 EPS. As a group, equities research analysts anticipate that Norfolk Southern Corporation will post 12.12 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a $1.35 dividend. The ex-dividend date was Friday, May 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. Norfolk Southern’s payout ratio is currently 45.49%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Royal Bank Of Canada cut their price target on Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a research note on Wednesday, June 24th. UBS Group set a $327.00 price objective on Norfolk Southern in a research report on Thursday, May 7th. BMO Capital Markets boosted their target price on Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a report on Monday, April 27th. Finally, Jefferies Financial Group cut their target price on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Six equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $320.35.

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.