Mission Wealth Management LP Buys 1,369 Shares of Norfolk Southern Co. (NYSE:NSC)

Mission Wealth Management LP raised its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 72.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,257 shares of the railroad operator’s stock after purchasing an additional 1,369 shares during the period. Mission Wealth Management LP’s holdings in Norfolk Southern were worth $770,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NSC. Provence Wealth Management Group acquired a new stake in Norfolk Southern during the 3rd quarter worth about $28,000. Exchange Traded Concepts LLC grew its stake 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 valued at $29,000 after buying an additional 106 shares during the period. Operose Advisors LLC acquired a new stake in shares of Norfolk Southern in the 3rd quarter valued at about $32,000. Orion Capital Management LLC acquired a new stake in shares of Norfolk Southern in the 3rd quarter valued at about $32,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at about $32,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. UBS Group reduced their target price on Norfolk Southern from $302.00 to $294.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. TD Cowen raised their price target on shares of Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, March 21st. Benchmark reaffirmed a “buy” rating and issued a $277.00 price target on shares of Norfolk Southern in a research report on Thursday, April 25th. The Goldman Sachs Group raised their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, Barclays raised shares of Norfolk Southern from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $255.00 to $305.00 in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus target price of $262.32.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $233.80 on Friday. The firm has a fifty day simple moving average of $250.16 and a two-hundred day simple moving average of $233.40. The stock has a market capitalization of $52.82 billion, a P/E ratio of 37.65, a PEG ratio of 3.23 and a beta of 1.30. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the firm posted $3.32 EPS. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, analysts expect that Norfolk Southern Co. will post 11.62 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio is presently 86.96%.

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.