Robertson Stephens Wealth Management LLC Has $265,000 Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Robertson Stephens Wealth Management LLC raised its holdings in Norfolk Southern Co. (NYSE:NSC) by 5.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,121 shares of the railroad operator’s stock after buying an additional 60 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Norfolk Southern were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Provence Wealth Management Group acquired a new stake in shares of Norfolk Southern in the 3rd quarter worth about $28,000. Exchange Traded Concepts LLC raised its stake 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 purchasing an additional 106 shares during the last quarter. Operose Advisors LLC bought a new position in shares of Norfolk Southern in the third quarter valued at approximately $32,000. Orion Capital Management LLC purchased a new position in shares of Norfolk Southern during the third quarter valued at approximately $32,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Norfolk Southern during the fourth quarter valued at approximately $32,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Stifel Nicolaus increased their price target on Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Jefferies Financial Group initiated coverage on shares of Norfolk Southern in a report on Monday, April 8th. They issued a “buy” rating and a $300.00 target price for the company. The Goldman Sachs Group boosted their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. increased their price objective on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, TD Cowen lifted their target price on shares of Norfolk Southern from $236.00 to $253.00 and gave the stock a “market perform” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.32.

Norfolk Southern Trading Up 0.7 %

Shares of NSC opened at $235.55 on Friday. The firm has a market cap of $53.21 billion, a P/E ratio of 37.93, a price-to-earnings-growth ratio of 3.28 and a beta of 1.30. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. The business has a 50-day moving average of $250.16 and a 200 day moving average of $233.40.

Norfolk Southern (NYSE:NSC) last posted 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). The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. Norfolk Southern’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.32 EPS. As a group, research analysts forecast that Norfolk Southern Co. will post 11.62 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.29%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

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.