Wedgewood Investors Inc. PA decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,350 shares of the railroad operator’s stock after selling 375 shares during the period. Norfolk Southern comprises about 1.5% of Wedgewood Investors Inc. PA’s investment portfolio, making the stock its 20th biggest holding. Wedgewood Investors Inc. PA’s holdings in Norfolk Southern were worth $1,168,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. DnB Asset Management AS increased its stake in shares of Norfolk Southern by 12.5% during the first quarter. DnB Asset Management AS now owns 58,647 shares of the railroad operator’s stock valued at $15,748,000 after acquiring an additional 6,516 shares during the period. Souders Financial Advisors acquired a new position in shares of Norfolk Southern during the fourth quarter worth approximately $2,023,000. Tortoise Investment Management LLC increased its stake in Norfolk Southern by 20.9% in the fourth quarter. Tortoise Investment Management LLC now owns 289 shares of the railroad operator’s stock valued at $69,000 after purchasing an additional 50 shares in the last quarter. Nippon Life Global Investors Americas Inc. increased its position in shares of Norfolk Southern by 95.6% during the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 87,970 shares of the railroad operator’s stock worth $20,903,000 after acquiring an additional 42,990 shares in the last quarter. Finally, Schwab Charitable Fund acquired a new position in Norfolk Southern during the fourth quarter worth $6,004,000. 67.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE NSC traded up $1.21 during trading on Tuesday, hitting $284.27. The stock had a trading volume of 3,987 shares, compared to its average volume of 1,168,598. Norfolk Southern Co. has a 12 month low of $157.48 and a 12 month high of $287.43. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.29 and a quick ratio of 1.16. The company has a market capitalization of $71.14 billion, a PE ratio of 36.43, a PEG ratio of 3.09 and a beta of 1.38. The firm has a fifty day moving average of $271.25 and a two-hundred day moving average of $247.74.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 20th. Shareholders of record on Friday, May 7th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.39%. The ex-dividend date is Thursday, May 6th. Norfolk Southern’s dividend payout ratio (DPR) is presently 38.30%.
A number of analysts have commented on NSC shares. Robert W. Baird upgraded shares of Norfolk Southern from a “neutral” rating to an “outperform” rating and set a $286.00 price target for the company in a research note on Tuesday, January 12th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of Norfolk Southern from $250.00 to $290.00 in a research note on Monday, January 11th. TD Securities raised their target price on shares of Norfolk Southern from $305.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, April 29th. Credit Suisse Group cut their target price on shares of Norfolk Southern from $283.00 to $271.00 and set an “outperform” rating for the company in a research note on Thursday, January 28th. Finally, Cowen raised their price target on shares of Norfolk Southern from $224.00 to $254.00 and gave the stock an “outperform” rating in a research report on Thursday, January 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $259.24.
In other news, EVP Ann A. Adams sold 2,460 shares of the stock in a transaction dated Friday, February 19th. The shares were sold at an average price of $255.00, for a total value of $627,300.00. Following the sale, the executive vice president now directly owns 9,601 shares of the company’s stock, valued at $2,448,255. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.32% of the company’s stock.
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 industrial products, including agriculture, forest and consumer products, chemicals, and metals and construction materials; and coal, automobiles, and automotive parts.
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