Sandbar Asset Management LLP Invests $764,000 in Norfolk Southern Co. (NYSE:NSC)

Sandbar Asset Management LLP purchased a new stake in shares of Norfolk Southern Co. (NYSE:NSC) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,369 shares of the railroad operator’s stock, valued at approximately $764,000. Norfolk Southern comprises about 2.1% of Sandbar Asset Management LLP’s investment portfolio, making the stock its 23rd largest holding.

Several other institutional investors have also added to or reduced their stakes in NSC. Axiom Financial Strategies LLC increased its stake in Norfolk Southern by 9.2% in the first quarter. Axiom Financial Strategies LLC now owns 852 shares of the railroad operator’s stock worth $220,000 after purchasing an additional 72 shares during the period. Fairfield Bush & CO. bought a new stake in Norfolk Southern during the 1st quarter valued at about $81,000. United Bank boosted its position in Norfolk Southern by 2.0% in the 1st quarter. United Bank now owns 7,581 shares of the railroad operator’s stock valued at $2,162,000 after buying an additional 148 shares during the period. Cetera Investment Advisers boosted its position in Norfolk Southern by 4.6% in the 1st quarter. Cetera Investment Advisers now owns 8,640 shares of the railroad operator’s stock valued at $2,464,000 after buying an additional 377 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in shares of Norfolk Southern by 13.3% during the first quarter. Sequoia Financial Advisors LLC now owns 1,946 shares of the railroad operator’s stock worth $555,000 after acquiring an additional 228 shares during the period. Institutional investors own 72.37% of the company’s stock.

Norfolk Southern Stock Performance

NSC stock traded down $0.56 during midday trading on Tuesday, reaching $211.56. The stock had a trading volume of 377,277 shares, compared to its average volume of 1,383,953. The firm has a fifty day simple moving average of $198.35 and a two-hundred day simple moving average of $211.35. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $261.71. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.97 and a current ratio of 1.08. The stock has a market cap of $47.84 billion, a PE ratio of 23.26, a P/E/G ratio of 2.87 and a beta of 1.29.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, October 25th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.74 by ($0.09). The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Norfolk Southern had a return on equity of 22.26% and a net margin of 16.96%. As a group, equities research analysts anticipate that Norfolk Southern Co. will post 11.81 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, November 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Thursday, November 2nd. Norfolk Southern’s dividend payout ratio (DPR) is currently 59.21%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NSC. Citigroup lowered their target price on Norfolk Southern from $235.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 26th. JPMorgan Chase & Co. lowered their price objective on shares of Norfolk Southern from $279.00 to $245.00 and set an “overweight” rating for the company in a research note on Wednesday, October 11th. Barclays cut their target price on shares of Norfolk Southern from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 26th. Wells Fargo & Company dropped their price objective on shares of Norfolk Southern from $245.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, October 26th. Finally, Royal Bank of Canada reduced their price objective on shares of Norfolk Southern from $223.00 to $201.00 and set a “sector perform” rating for the company in a research note on Thursday, October 26th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $237.15.

About Norfolk Southern

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.