Sage Investment Advisers LLC Buys Shares of 2,235 Norfolk Southern Corporation $NSC

Sage Investment Advisers LLC bought a new stake in Norfolk Southern Corporation (NYSE:NSC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,235 shares of the railroad operator’s stock, valued at approximately $645,000.

Other large investors also recently modified their holdings of the company. Cullen Capital Management LLC increased its holdings in shares of Norfolk Southern by 31.8% in the third quarter. Cullen Capital Management LLC now owns 121,351 shares of the railroad operator’s stock worth $36,455,000 after acquiring an additional 29,264 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in shares of Norfolk Southern in the third quarter worth about $24,033,000. Principal Financial Group Inc. increased its holdings in shares of Norfolk Southern by 0.8% in the third quarter. Principal Financial Group Inc. now owns 250,186 shares of the railroad operator’s stock worth $75,158,000 after acquiring an additional 2,049 shares in the last quarter. Primecap Management Co. CA increased its holdings in shares of Norfolk Southern by 7.9% in the third quarter. Primecap Management Co. CA now owns 1,132,583 shares of the railroad operator’s stock worth $340,239,000 after acquiring an additional 82,500 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV bought a new stake in shares of Norfolk Southern in the third quarter worth about $1,550,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Up 0.0%

NSC stock opened at $304.99 on Monday. 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 business has a 50 day moving average price of $303.14 and a two-hundred day moving average price of $298.38. The company has a market cap of $68.50 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 5.63 and a beta of 1.27. Norfolk Southern Corporation has a twelve month low of $241.82 and a twelve month high of $326.00.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $2.69 earnings per share. Analysts anticipate that Norfolk Southern Corporation will post 12.11 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio (DPR) is currently 45.49%.

Analyst Upgrades and Downgrades

NSC has been the subject of several recent analyst reports. Rothschild & Co Redburn increased their price target on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Wolfe Research increased their price objective on Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Zacks Research upgraded Norfolk Southern from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Citigroup reiterated a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. Finally, Weiss Ratings downgraded Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $319.83.

Norfolk Southern Company Profile

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.