Capital Investment Advisors LLC Boosts Stock Position in Norfolk Southern Co. (NYSE:NSC)

Capital Investment Advisors LLC grew its holdings in Norfolk Southern Co. (NYSE:NSC) by 5.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,055 shares of the railroad operator’s stock after buying an additional 1,199 shares during the quarter. Capital Investment Advisors LLC’s holdings in Norfolk Southern were worth $5,455,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Morton Brown Family Wealth LLC purchased a new stake in shares of Norfolk Southern in the first quarter valued at approximately $29,000. Worth Asset Management LLC purchased a new stake in shares of Norfolk Southern during the first quarter worth approximately $30,000. OLD Mission Capital LLC purchased a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $36,000. Freedom Wealth Alliance LLC purchased a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $39,000. Finally, AXS Investments LLC purchased a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $40,000. 72.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on NSC shares. Vertical Research upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Tuesday, July 11th. Royal Bank of Canada boosted their price target on Norfolk Southern from $210.00 to $227.00 in a research report on Friday, July 28th. Wells Fargo & Company boosted their price objective on Norfolk Southern from $250.00 to $260.00 in a research note on Tuesday, July 11th. Bank of America boosted their price objective on Norfolk Southern from $226.00 to $253.00 in a research note on Tuesday, July 11th. Finally, Citigroup raised Norfolk Southern from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $226.00 to $257.00 in a research note on Monday, May 22nd. Thirteen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus price target of $245.40.

Norfolk Southern Stock Down 1.2 %

NYSE NSC traded down $2.57 during trading hours on Friday, hitting $204.03. 1,668,673 shares of the company were exchanged, compared to its average volume of 1,101,923. Norfolk Southern Co. has a 52-week low of $194.05 and a 52-week high of $261.71. The firm has a market cap of $46.32 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 2.47 and a beta of 1.29. 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 company has a 50 day moving average of $218.15 and a two-hundred day moving average of $214.65.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 27th. The railroad operator reported $2.95 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.20). The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a net margin of 20.25% and a return on equity of 24.88%. The company’s revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.45 EPS. Equities research analysts anticipate that Norfolk Southern Co. will post 12.55 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Friday, August 4th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.65%. Norfolk Southern’s dividend payout ratio (DPR) is presently 48.56%.

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.