Rafferty Asset Management LLC Has $5.64 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Rafferty Asset Management LLC grew its position in Norfolk Southern Co. (NYSE:NSC) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,017 shares of the railroad operator’s stock after purchasing an additional 2,673 shares during the period. Rafferty Asset Management LLC’s holdings in Norfolk Southern were worth $5,637,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Norfolk Southern by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator’s stock worth $1,098,472,000 after purchasing an additional 113,648 shares during the period. Caprock Group LLC acquired a new stake in Norfolk Southern in the fourth quarter worth $1,796,000. Dorsey & Whitney Trust CO LLC raised its holdings in Norfolk Southern by 2.3% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator’s stock worth $1,333,000 after purchasing an additional 128 shares during the period. Clarendon Private LLC acquired a new stake in Norfolk Southern in the fourth quarter worth $309,000. Finally, Ausbil Investment Management Ltd acquired a new stake in Norfolk Southern in the fourth quarter worth $4,703,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NSC shares. Royal Bank of Canada lowered their price objective on shares of Norfolk Southern from $271.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Stephens increased their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Barclays lowered their price objective on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They set a “buy” rating and a $293.00 price objective for the company. Finally, Bank of America increased their price objective on shares of Norfolk Southern from $267.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Norfolk Southern has a consensus rating of “Moderate Buy” and an average target price of $266.50.

Norfolk Southern Stock Performance

Shares of NSC opened at $246.19 on Friday. The firm has a 50-day moving average of $226.19 and a 200-day moving average of $242.47. Norfolk Southern Co. has a one year low of $201.63 and a one year high of $277.60. The company has a market cap of $55.50 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.03). Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the business earned $2.49 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, equities analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.89%.

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.