Covestor Ltd Has $125,000 Stock Position in Norfolk Southern Co. (NYSE:NSC)

Covestor Ltd increased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 389.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 489 shares of the railroad operator’s stock after acquiring an additional 389 shares during the quarter. Covestor Ltd’s holdings in Norfolk Southern were worth $125,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Norfolk Southern by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock valued at $5,001,490,000 after purchasing an additional 1,088,072 shares during the last quarter. Norges Bank bought a new position in Norfolk Southern in the fourth quarter valued at approximately $556,797,000. Charles Schwab Investment Management Inc. grew its holdings in Norfolk Southern by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,296,632 shares of the railroad operator’s stock worth $306,498,000 after acquiring an additional 38,080 shares during the period. Stifel Financial Corp raised its position in shares of Norfolk Southern by 600.3% during the 4th quarter. Stifel Financial Corp now owns 1,021,312 shares of the railroad operator’s stock valued at $241,421,000 after acquiring an additional 875,473 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Norfolk Southern by 8.5% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 853,694 shares of the railroad operator’s stock valued at $215,464,000 after purchasing an additional 67,024 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC traded down $0.94 on Wednesday, hitting $223.34. The company’s stock had a trading volume of 445,911 shares, compared to its average volume of 1,288,660. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The firm has a market capitalization of $50.45 billion, a P/E ratio of 36.11, a price-to-earnings-growth ratio of 2.25 and a beta of 1.32. The stock has a fifty day moving average of $222.70 and a two-hundred day moving average of $237.58. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the business earned $3.32 EPS. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Research analysts predict that Norfolk Southern Co. will post 11.62 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.42%. Norfolk Southern’s dividend payout ratio is presently 86.96%.

Insider Activity

In related news, Director Sameh Fahmy purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $219.25 per share, with a total value of $438,500.00. Following the completion of the purchase, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Sameh Fahmy acquired 2,000 shares of the stock in a transaction on Friday, June 14th. The stock was acquired at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the transaction, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Claude E. Elkins sold 8,329 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NSC shares. Jefferies Financial Group assumed coverage on Norfolk Southern in a report on Monday, April 8th. They issued a “buy” rating and a $300.00 price objective for the company. Susquehanna lowered their price target on Norfolk Southern from $265.00 to $245.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. Morgan Stanley reissued an “underweight” rating and set a $175.00 price objective on shares of Norfolk Southern in a research note on Monday, July 8th. Royal Bank of Canada upgraded shares of Norfolk Southern from a “sector perform” rating to an “outperform” rating and set a $270.00 target price on the stock in a report on Thursday, May 23rd. Finally, UBS Group reduced their target price on Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus target price of $263.53.

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.