Keel Point LLC Increases Position in Norfolk Southern Co. (NYSE:NSC)

Keel Point LLC raised its holdings in Norfolk Southern Co. (NYSE:NSC) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,382 shares of the railroad operator’s stock after acquiring an additional 138 shares during the period. Keel Point LLC’s holdings in Norfolk Southern were worth $1,447,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Norfolk Southern by 0.3% in the 1st quarter. Geode Capital Management LLC now owns 4,112,708 shares of the railroad operator’s stock worth $869,600,000 after acquiring an additional 13,513 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in Norfolk Southern by 95,518.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,028,232 shares of the railroad operator’s stock valued at $746,217,000 after purchasing an additional 3,025,065 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Norfolk Southern by 86.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,724,821 shares of the railroad operator’s stock worth $671,451,000 after buying an additional 1,265,666 shares during the period. Morgan Stanley lifted its holdings in Norfolk Southern by 33.5% in the 4th quarter. Morgan Stanley now owns 2,546,214 shares of the railroad operator’s stock worth $627,438,000 after buying an additional 638,384 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Norfolk Southern during the fourth quarter valued at about $537,007,000. Hedge funds and other institutional investors own 72.37% of the company’s stock.

Norfolk Southern Stock Performance

Norfolk Southern stock traded down $4.23 during trading hours on Tuesday, reaching $199.90. 336,222 shares of the company were exchanged, compared to its average volume of 1,419,074. Norfolk Southern Co. has a 12 month low of $194.05 and a 12 month high of $261.71. The firm has a market cap of $45.38 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 2.44 and a beta of 1.29. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average of $218.15 and a 200 day moving average of $214.58.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 27th. The railroad operator reported $2.95 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.20). Norfolk Southern had a return on equity of 24.88% and a net margin of 20.25%. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the business earned $3.45 EPS. The business’s revenue was down 8.3% compared to the same quarter last year. As a group, research analysts anticipate that Norfolk Southern Co. will post 12.55 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Friday, August 4th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Thursday, August 3rd. Norfolk Southern’s dividend payout ratio is 48.56%.

Wall Street Analyst Weigh In

NSC has been the topic of a number of research analyst reports. TD Cowen increased their target price on Norfolk Southern from $243.00 to $253.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Citigroup upgraded shares of Norfolk Southern from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $226.00 to $257.00 in a research note on Monday, May 22nd. Bank of America lifted their target price on Norfolk Southern from $226.00 to $253.00 in a research note on Tuesday, July 11th. StockNews.com initiated coverage on Norfolk Southern in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada boosted their price objective on Norfolk Southern from $210.00 to $227.00 in a research report on Friday, July 28th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.40.

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.