Toroso Investments LLC raised its position in Norfolk Southern Co. (NYSE:NSC – Get Rating) by 19.8% in the 3rd quarter, Holdings Channel reports. The fund owned 5,764 shares of the railroad operator’s stock after purchasing an additional 952 shares during the period. Toroso Investments LLC’s holdings in Norfolk Southern were worth $1,208,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of NSC. Worth Asset Management LLC acquired a new stake in Norfolk Southern in the first quarter valued at approximately $30,000. Adirondack Trust Co. acquired a new stake in shares of Norfolk Southern during the third quarter worth approximately $31,000. HWG Holdings LP acquired a new stake in shares of Norfolk Southern during the third quarter worth approximately $31,000. Newfound Research LLC acquired a new stake in shares of Norfolk Southern during the third quarter worth approximately $39,000. Finally, Insight Inv LLC acquired a new stake in shares of Norfolk Southern during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 72.98% of the company’s stock.
Norfolk Southern Price Performance
Shares of NYSE NSC opened at $203.90 on Friday. Norfolk Southern Co. has a fifty-two week low of $202.40 and a fifty-two week high of $291.55. The firm’s 50-day simple moving average is $235.58 and its 200 day simple moving average is $236.29. The company has a quick ratio of 0.66, a current ratio of 0.76 and a debt-to-equity ratio of 1.14. The stock has a market cap of $46.44 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.97 and a beta of 1.30.
Norfolk Southern Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 21st. Investors of record on Friday, February 3rd were paid a dividend of $1.35 per share. This is a boost from Norfolk Southern’s previous quarterly dividend of $1.24. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Thursday, February 2nd. Norfolk Southern’s payout ratio is currently 38.85%.
Analysts Set New Price Targets
NSC has been the subject of a number of recent analyst reports. Benchmark decreased their price target on shares of Norfolk Southern from $280.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday, January 26th. BMO Capital Markets raised their price objective on Norfolk Southern from $245.00 to $250.00 and gave the stock a “market perform” rating in a research note on Thursday, January 26th. Wells Fargo & Company cut Norfolk Southern from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $285.00 to $245.00 in a research note on Wednesday, January 4th. JPMorgan Chase & Co. reduced their price objective on Norfolk Southern from $236.00 to $232.00 and set a “neutral” rating on the stock in a research note on Thursday, January 26th. Finally, Credit Suisse Group reduced their price objective on Norfolk Southern from $285.00 to $275.00 and set an “outperform” rating on the stock in a research note on Thursday, January 26th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern presently has a consensus rating of “Hold” and an average price target of $250.17.
Norfolk Southern Company Profile
Norfolk Southern Corp. is a transportation company, which engages in the rail transportation of raw materials, intermediate products, and finished goods. The company also transports overseas freight through several Atlantic and Gulf Coast ports. Its services include property leases and sales, wire line or pipeline and fiber optics projects, access property, managing private crossings, promoting businesses with signboards, and natural resource management.
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