Hanson & Doremus Investment Management Grows Position in Norfolk Southern Corporation $NSC

Hanson & Doremus Investment Management increased its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 229.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,616 shares of the railroad operator’s stock after purchasing an additional 3,913 shares during the period. Hanson & Doremus Investment Management’s holdings in Norfolk Southern were worth $1,612,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Norfolk Southern by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock worth $6,012,836,000 after acquiring an additional 272,651 shares during the last quarter. State Street Corp boosted its holdings in Norfolk Southern by 4.1% during the 4th quarter. State Street Corp now owns 9,710,549 shares of the railroad operator’s stock valued at $2,803,630,000 after acquiring an additional 379,819 shares during the period. Geode Capital Management LLC grew its position in Norfolk Southern by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock valued at $1,401,797,000 after acquiring an additional 36,205 shares during the last quarter. Norges Bank bought a new position in Norfolk Southern in the 4th quarter valued at $1,084,701,000. Finally, Pentwater Capital Management LP increased its stake in Norfolk Southern by 9.8% in the fourth quarter. Pentwater Capital Management LP now owns 3,019,000 shares of the railroad operator’s stock worth $871,646,000 after purchasing an additional 269,000 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Trading Up 1.2%

NSC opened at $303.66 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market cap of $68.20 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 5.54 and a beta of 1.27. Norfolk Southern Corporation has a 12 month low of $251.62 and a 12 month high of $326.00. The stock has a fifty day moving average price of $309.99 and a 200-day moving average price of $300.77.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. Norfolk Southern’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.69 earnings per share. As a group, equities research analysts anticipate that Norfolk Southern Corporation will post 12.12 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio is currently 45.49%.

Wall Street Analyst Weigh In

NSC has been the subject of a number of research analyst reports. Sanford C. Bernstein decreased their price objective on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Citigroup restated a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Royal Bank Of Canada raised their target price on shares of Norfolk Southern from $310.00 to $360.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. BMO Capital Markets lifted their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a research note on Monday, April 27th. Finally, Weiss Ratings downgraded shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $322.71.

Norfolk Southern 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.