Norfolk Southern Corp. (NYSE:NSC) Stake Lifted by Burney Co.
Burney Co. lifted its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 2.8% in the 1st quarter, HoldingsChannel reports. The firm owned 9,423 shares of the railroad operator’s stock after acquiring an additional 258 shares during the period. Burney Co.’s holdings in Norfolk Southern were worth $1,761,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC grew its holdings in shares of Norfolk Southern by 27.7% during the first quarter. Lazard Asset Management LLC now owns 7,333,967 shares of the railroad operator’s stock worth $1,370,644,000 after purchasing an additional 1,592,303 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position in Norfolk Southern by 55.9% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,125 shares of the railroad operator’s stock worth $584,000 after buying an additional 1,120 shares during the last quarter. U S Global Investors Inc. bought a new stake in Norfolk Southern in the 1st quarter worth approximately $386,000. Hancock Whitney Corp lifted its position in Norfolk Southern by 2.3% in the 1st quarter. Hancock Whitney Corp now owns 28,077 shares of the railroad operator’s stock worth $5,247,000 after buying an additional 629 shares during the last quarter. Finally, FIL Ltd lifted its position in Norfolk Southern by 16.9% in the 1st quarter. FIL Ltd now owns 1,275,249 shares of the railroad operator’s stock worth $238,331,000 after buying an additional 184,698 shares during the last quarter. 72.84% of the stock is owned by institutional investors.
NSC has been the subject of several recent research reports. TD Securities boosted their price objective on Norfolk Southern from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 12th. Citigroup boosted their price objective on Norfolk Southern from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Credit Suisse Group boosted their price objective on Norfolk Southern from $181.00 to $195.00 and gave the company an “outperform” rating in a research report on Tuesday, February 12th. Morgan Stanley boosted their price objective on Norfolk Southern from $133.00 to $138.00 and gave the company an “underweight” rating in a research report on Monday, April 29th. Finally, Cowen reiterated an “outperform” rating and issued a $230.00 price objective (up previously from $200.00) on shares of Norfolk Southern in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. Norfolk Southern currently has an average rating of “Buy” and an average price target of $202.06.
Shares of Norfolk Southern stock opened at $198.97 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 0.69. The company has a market cap of $54.00 billion, a P/E ratio of 20.92, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38. Norfolk Southern Corp. has a 52 week low of $138.65 and a 52 week high of $211.46.
Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, April 24th. The railroad operator reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.34. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 earnings per share. On average, equities analysts predict that Norfolk Southern Corp. will post 10.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 3rd were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.73%. Norfolk Southern’s dividend payout ratio is presently 36.17%.
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About Norfolk Southern
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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