883 Shares in Norfolk Southern Co. (NYSE:NSC) Bought by MJP Associates Inc. ADV

MJP Associates Inc. ADV purchased a new position in shares of Norfolk Southern Co. (NYSE:NSC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 883 shares of the railroad operator’s stock, valued at approximately $209,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Axiom Financial Strategies LLC raised its position in Norfolk Southern by 9.2% during the first quarter. Axiom Financial Strategies LLC now owns 852 shares of the railroad operator’s stock worth $220,000 after acquiring an additional 72 shares during the period. Fairfield Bush & CO. acquired a new position in Norfolk Southern during the first quarter worth $81,000. United Bank raised its position in Norfolk Southern by 2.0% during the first quarter. United Bank now owns 7,581 shares of the railroad operator’s stock worth $2,162,000 after acquiring an additional 148 shares during the period. Cetera Investment Advisers raised its position in shares of Norfolk Southern by 4.6% in the first quarter. Cetera Investment Advisers now owns 8,640 shares of the railroad operator’s stock valued at $2,464,000 after buying an additional 377 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of Norfolk Southern by 13.3% in the first quarter. Sequoia Financial Advisors LLC now owns 1,946 shares of the railroad operator’s stock valued at $555,000 after buying an additional 228 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 1.3 %

NSC stock traded up $3.15 during mid-day trading on Thursday, hitting $254.87. 979,908 shares of the company were exchanged, compared to its average volume of 1,364,901. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $62.75 billion, a P/E ratio of 31.83, a PEG ratio of 3.32 and a beta of 1.30. The business has a fifty day simple moving average of $251.26 and a 200-day simple moving average of $225.30. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.04). The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $3.42 EPS. On average, equities research analysts predict that Norfolk Southern Co. will post 12.14 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 2nd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, February 1st. Norfolk Southern’s payout ratio is 67.33%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NSC shares. TheStreet upgraded shares of Norfolk Southern from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Susquehanna increased their target price on shares of Norfolk Southern from $245.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday. The Goldman Sachs Group increased their target price on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Royal Bank of Canada reduced their target price on shares of Norfolk Southern from $215.00 to $207.00 and set a “sector perform” rating for the company in a research report on Monday, January 29th. Finally, Stifel Nicolaus lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price objective for the company from $250.00 to $233.00 in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $252.38.

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.