Norfolk Southern Co. (NYSE:NSC) Shares Purchased by Washington Capital Management Inc.

Washington Capital Management Inc. boosted its stake in Norfolk Southern Co. (NYSE:NSCFree Report) by 21.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,750 shares of the railroad operator’s stock after acquiring an additional 1,025 shares during the period. Norfolk Southern accounts for about 1.2% of Washington Capital Management Inc.’s holdings, making the stock its 14th biggest position. Washington Capital Management Inc.’s holdings in Norfolk Southern were worth $1,359,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. VisionPoint Advisory Group LLC acquired a new stake in shares of Norfolk Southern in the 2nd quarter worth approximately $25,000. Worth Asset Management LLC acquired a new stake in shares of Norfolk Southern in the 1st quarter worth approximately $30,000. Exchange Traded Concepts LLC grew its holdings in shares of Norfolk Southern by 662.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after acquiring an additional 106 shares during the period. Provence Wealth Management Group acquired a new stake in shares of Norfolk Southern in the 3rd quarter worth approximately $28,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in Norfolk Southern by 317.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 146 shares of the railroad operator’s stock valued at $35,000 after buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NSC. BMO Capital Markets reduced their target price on Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating on the stock in a research note on Monday, January 29th. Barclays raised Norfolk Southern from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $255.00 to $305.00 in a research note on Wednesday, February 21st. Morgan Stanley lowered Norfolk Southern from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $185.00 to $175.00 in a research note on Monday, January 29th. TD Cowen upped their target price 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. Finally, Royal Bank of Canada reduced their target price on Norfolk Southern from $215.00 to $207.00 and set a “sector perform” rating on the stock in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average price target of $252.38.

Get Our Latest Analysis on NSC

Norfolk Southern Trading Up 1.3 %

Shares of NSC opened at $254.87 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $62.75 billion, a P/E ratio of 31.78, a price-to-earnings-growth ratio of 3.42 and a beta of 1.30. The stock’s fifty day simple moving average is $252.09 and its 200 day simple moving average is $225.92. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66.

Norfolk Southern (NYSE:NSCGet Free Report) last issued 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 firm had revenue of $3.10 billion during 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 posted $3.42 earnings per share. On average, equities research analysts forecast that Norfolk Southern Co. will post 12.14 earnings per share for the current year.

Norfolk Southern Dividend Announcement

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

Norfolk Southern Profile

(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.

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

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