Wellington Management Group LLP Purchases 5,777 Shares of Norfolk Southern Co. (NYSE:NSC)

Wellington Management Group LLP lifted its position in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 64.1% during the 3rd quarter, Holdings Channel reports. The firm owned 14,785 shares of the railroad operator’s stock after purchasing an additional 5,777 shares during the quarter. Wellington Management Group LLP’s holdings in Norfolk Southern were worth $2,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of NSC. Northwest Investment Counselors LLC increased its position in Norfolk Southern by 23.6% during the third quarter. Northwest Investment Counselors LLC now owns 262 shares of the railroad operator’s stock worth $52,000 after buying an additional 50 shares during the last quarter. Bridge Creek Capital Management LLC increased its holdings in shares of Norfolk Southern by 0.5% during the 3rd quarter. Bridge Creek Capital Management LLC now owns 10,454 shares of the railroad operator’s stock worth $2,059,000 after acquiring an additional 50 shares during the last quarter. Horan Securities Inc. raised its stake in Norfolk Southern by 3.5% in the 3rd quarter. Horan Securities Inc. now owns 1,578 shares of the railroad operator’s stock valued at $311,000 after acquiring an additional 53 shares during the period. Allworth Financial LP lifted its holdings in Norfolk Southern by 1.2% during the 3rd quarter. Allworth Financial LP now owns 4,723 shares of the railroad operator’s stock valued at $930,000 after purchasing an additional 56 shares during the last quarter. Finally, Everhart Financial Group Inc. boosted its position in Norfolk Southern by 2.8% during the third quarter. Everhart Financial Group Inc. now owns 2,109 shares of the railroad operator’s stock worth $415,000 after purchasing an additional 57 shares during the period. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $251.72 on Thursday. The company has a 50 day moving average of $250.74 and a 200-day moving average of $225.12. The company has a market cap of $61.98 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 3.33 and a beta of 1.30. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66.

Norfolk Southern (NYSE:NSCGet Free Report) last released 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). Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the company earned $3.42 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities research analysts forecast that Norfolk Southern Co. will post 12.14 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 2nd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Thursday, February 1st. Norfolk Southern’s dividend payout ratio is presently 67.33%.

Analysts Set New Price Targets

NSC has been the topic of several research analyst reports. TheStreet raised shares of Norfolk Southern from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. BMO Capital Markets cut their price objective on shares of Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating for the company in a research report on Monday, January 29th. UBS Group upgraded Norfolk Southern from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $238.00 to $302.00 in a report on Monday, March 4th. Stifel Nicolaus lowered Norfolk Southern from a “buy” rating to a “hold” rating and lowered their target price for the stock from $250.00 to $233.00 in a research note on Monday, January 29th. Finally, TD Cowen boosted their price target on 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 analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.94.

Read Our Latest Report on NSC

About Norfolk Southern

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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