Raleigh Capital Management Inc. Grows Stock Position in Norfolk Southern Co. (NYSE:NSC)

Raleigh Capital Management Inc. boosted its stake in Norfolk Southern Co. (NYSE:NSC) by 11.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 789 shares of the railroad operator’s stock after acquiring an additional 83 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Norfolk Southern were worth $167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NSC. Private Advisor Group LLC purchased a new position in Norfolk Southern in the 1st quarter valued at about $6,214,000. Crewe Advisors LLC boosted its position in Norfolk Southern by 9.1% in the 1st quarter. Crewe Advisors LLC now owns 1,168 shares of the railroad operator’s stock valued at $248,000 after buying an additional 97 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Norfolk Southern by 4.1% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 119,260 shares of the railroad operator’s stock valued at $25,283,000 after buying an additional 4,700 shares during the last quarter. AXS Investments LLC purchased a new position in Norfolk Southern in the 4th quarter valued at about $40,000. Finally, Whitener Capital Management Inc. boosted its stake in shares of Norfolk Southern by 0.9% during the 4th quarter. Whitener Capital Management Inc. now owns 7,810 shares of the railroad operator’s stock valued at $1,924,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 72.37% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $206.60 on Friday. Norfolk Southern Co. has a fifty-two week low of $194.05 and a fifty-two week high of $261.71. The firm’s 50-day simple moving average is $219.02 and its 200 day simple moving average is $214.93. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.15. The stock has a market cap of $46.90 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.34 and a beta of 1.29.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 27th. The railroad operator reported $2.95 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.20). Norfolk Southern had a return on equity of 24.88% and a net margin of 20.25%. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the firm earned $3.45 EPS. Norfolk Southern’s revenue for the quarter was down 8.3% on a year-over-year basis. Equities analysts expect that Norfolk Southern Co. will post 12.59 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Friday, August 4th were issued a dividend of $1.35 per share. The ex-dividend date was Thursday, August 3rd. This represents a $5.40 annualized dividend and a yield of 2.61%. Norfolk Southern’s payout ratio is 48.56%.

Analyst Upgrades and Downgrades

NSC has been the subject of several research analyst reports. Royal Bank of Canada increased their target price on Norfolk Southern from $210.00 to $227.00 in a research note on Friday, July 28th. Vertical Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Tuesday, July 11th. Wells Fargo & Company increased their price target on shares of Norfolk Southern from $250.00 to $260.00 in a research report on Tuesday, July 11th. Bank of America increased their price target on shares of Norfolk Southern from $226.00 to $253.00 in a research report on Tuesday, July 11th. Finally, StockNews.com started coverage on shares of Norfolk Southern in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.40.

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.