Norfolk Southern Co. (NYSE:NSC) Shares Purchased by Israel Discount Bank of New York

Israel Discount Bank of New York increased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,367 shares of the railroad operator’s stock after acquiring an additional 48 shares during the quarter. Israel Discount Bank of New York’s holdings in Norfolk Southern were worth $560,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NSC. Provence Wealth Management Group acquired a new position in shares of Norfolk Southern during the 3rd quarter worth $28,000. Exchange Traded Concepts LLC lifted its holdings in Norfolk Southern by 662.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after purchasing an additional 106 shares during the last quarter. Operose Advisors LLC bought a new position in Norfolk Southern during the 3rd quarter valued at about $32,000. Orion Capital Management LLC bought a new position in Norfolk Southern during the 3rd quarter valued at about $32,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Norfolk Southern in the fourth quarter worth about $32,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

NSC has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Susquehanna cut their price target on shares of Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, April 10th. UBS Group dropped their price objective on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a research report on Thursday. Citigroup increased their price objective on shares of Norfolk Southern from $253.00 to $286.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $277.00 price target on shares of Norfolk Southern in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.32.

Norfolk Southern Price Performance

Shares of NYSE:NSC traded down $0.97 during midday trading on Monday, hitting $238.97. The company’s stock had a trading volume of 900,654 shares, compared to its average volume of 1,286,459. The business’s 50 day simple moving average is $251.83 and its 200 day simple moving average is $232.92. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. The company has a market cap of $53.99 billion, a P/E ratio of 38.64, a price-to-earnings-growth ratio of 3.31 and a beta of 1.30. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the firm earned $3.32 earnings per share. Norfolk Southern’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 3rd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

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.