2,240 Shares in Norfolk Southern Co. (NYSE:NSC) Bought by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC bought a new position in Norfolk Southern Co. (NYSE:NSC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,240 shares of the railroad operator’s stock, valued at approximately $529,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its stake in 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 purchasing an additional 106 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Norfolk Southern in the 4th quarter valued at about $32,000. Provence Wealth Management Group bought a new position in Norfolk Southern in the 3rd quarter valued at about $28,000. Creative Financial Designs Inc. ADV raised its holdings 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 acquiring an additional 111 shares during the period. Finally, Financial Connections Group Inc. bought a new position in Norfolk Southern in the 4th quarter valued at about $34,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. TD Cowen raised their target price on shares of Norfolk Southern from $236.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. Barclays raised shares of Norfolk Southern from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $255.00 to $305.00 in a report on Wednesday, February 21st. Sanford C. Bernstein upgraded shares of Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price target on the stock in a research report on Monday, January 22nd. Finally, Loop Capital increased their price target on shares of Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $262.32.

Norfolk Southern Stock Performance

NSC traded down $0.89 during midday trading on Friday, reaching $239.94. The company had a trading volume of 1,461,075 shares, compared to its average volume of 977,733. The business has a 50-day moving average price of $251.83 and a two-hundred day moving average price of $232.49. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.14 and a current ratio of 0.68. The stock has a market cap of $54.21 billion, a PE ratio of 38.64, a P/E/G ratio of 3.30 and a beta of 1.30. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The business’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the company posted $3.32 EPS. On average, sell-side analysts expect that Norfolk Southern Co. will post 11.89 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 3rd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, May 2nd. Norfolk Southern’s payout ratio is 86.96%.

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.