Northwest Investment Counselors LLC Makes New Investment in Norfolk Southern Co. (NYSE:NSC)

Northwest Investment Counselors LLC bought a new stake in Norfolk Southern Co. (NYSE:NSC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 212 shares of the railroad operator’s stock, valued at approximately $54,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC boosted its position in shares of Norfolk Southern by 662.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after buying an additional 106 shares during the period. Operose Advisors LLC purchased a new stake in shares of Norfolk Southern during the third quarter valued at approximately $32,000. Orion Capital Management LLC purchased a new position in shares of Norfolk Southern in the third quarter valued at $32,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Norfolk Southern during the 4th quarter worth $32,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern during the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NSC traded up $2.55 during trading on Monday, reaching $227.42. The stock had a trading volume of 149,879 shares, compared to its average volume of 1,295,636. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The firm has a market capitalization of $51.38 billion, a price-to-earnings ratio of 36.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The stock has a 50 day moving average of $229.90 and a two-hundred day moving average of $239.37. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share 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 firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the business earned $3.32 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts anticipate that Norfolk Southern Co. will post 11.88 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s payout ratio is 86.96%.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of recent analyst reports. UBS Group decreased their price target on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Susquehanna decreased their price target on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, April 10th. Barclays cut their price objective on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, May 13th. Wells Fargo & Company started coverage on Norfolk Southern in a research note on Friday, June 7th. They set an “overweight” rating and a $270.00 price objective on the stock. Finally, TD Cowen boosted their target price on shares of Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and an average price target of $264.56.

Insider Transactions at Norfolk Southern

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

Norfolk Southern 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.