Tower Bridge Advisors Acquires 50 Shares of Norfolk Southern Corporation (NYSE:NSC)

Tower Bridge Advisors increased its stake in Norfolk Southern Corporation (NYSE:NSC) by 0.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 8,306 shares of the railroad operator’s stock after buying an additional 50 shares during the quarter. Tower Bridge Advisors’ holdings in Norfolk Southern were worth $1,967,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NSC. Strategic Investment Solutions Inc. IL increased its holdings in Norfolk Southern by 16.9% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator’s stock worth $71,000 after acquiring an additional 44 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in Norfolk Southern by 1.5% during the fourth quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator’s stock valued at $727,000 after purchasing an additional 45 shares during the last quarter. Canandaigua National Trust Co of Florida lifted its holdings in Norfolk Southern by 4.9% during the first quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator’s stock valued at $226,000 after purchasing an additional 45 shares during the last quarter. Capital Investment Advisory Services LLC boosted its position in Norfolk Southern by 1.8% during the first quarter. Capital Investment Advisory Services LLC now owns 2,556 shares of the railroad operator’s stock worth $605,000 after purchasing an additional 45 shares during the period. Finally, Malaga Cove Capital LLC increased its stake in shares of Norfolk Southern by 2.1% in the fourth quarter. Malaga Cove Capital LLC now owns 2,451 shares of the railroad operator’s stock worth $575,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 2.8%

NSC stock opened at $278.37 on Wednesday. The company’s 50 day moving average is $257.71 and its 200 day moving average is $243.92. The stock has a market cap of $62.76 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 1.15. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $288.11.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $0.05. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. Sell-side analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 1st will be given a $1.35 dividend. The ex-dividend date is Friday, August 1st. This represents a $5.40 annualized dividend and a yield of 1.94%. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.89%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NSC shares. TD Cowen upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and upped their price target for the company from $263.00 to $323.00 in a research note on Monday, July 21st. Royal Bank Of Canada lowered their target price on shares of Norfolk Southern from $271.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Bank of America raised their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. UBS Group boosted their price objective on Norfolk Southern from $275.00 to $279.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Finally, JPMorgan Chase & Co. increased their price objective on Norfolk Southern from $272.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average target price of $282.50.

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.