Spartan Wealth Advisory Services LLC Takes Position in Norfolk Southern Corporation $NSC

Spartan Wealth Advisory Services LLC bought a new stake in Norfolk Southern Corporation (NYSE:NSC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,814 shares of the railroad operator’s stock, valued at approximately $1,956,000.

A number of other large investors have also recently bought and sold shares of NSC. Vanguard Group Inc. lifted its position in shares of Norfolk Southern by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock valued at $6,012,836,000 after acquiring an additional 272,651 shares in the last quarter. State Street Corp increased its position in Norfolk Southern by 4.1% during the 4th quarter. State Street Corp now owns 9,710,549 shares of the railroad operator’s stock worth $2,803,630,000 after purchasing an additional 379,819 shares in the last quarter. Geode Capital Management LLC increased its position in Norfolk Southern by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock worth $1,401,797,000 after purchasing an additional 36,205 shares in the last quarter. Norges Bank acquired a new position in Norfolk Southern in the 4th quarter valued at about $1,084,701,000. Finally, Pentwater Capital Management LP raised its stake in Norfolk Southern by 9.8% in the 4th quarter. Pentwater Capital Management LP now owns 3,019,000 shares of the railroad operator’s stock valued at $871,646,000 after purchasing an additional 269,000 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.6%

Shares of NYSE:NSC opened at $340.24 on Friday. The stock’s 50-day moving average price is $314.78 and its two-hundred day moving average price is $304.41. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. Norfolk Southern Corporation has a 12-month low of $268.23 and a 12-month high of $342.53. The firm has a market cap of $76.42 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 6.22 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the business earned $2.69 EPS. The firm’s revenue was up .2% on a year-over-year basis. On average, research analysts forecast that Norfolk Southern Corporation will post 12.24 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. Norfolk Southern’s dividend payout ratio (DPR) is currently 45.49%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NSC shares. JPMorgan Chase & Co. decreased their price target on shares of Norfolk Southern from $331.00 to $316.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Stephens raised shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Barclays upped their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Susquehanna raised their target price on shares of Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Finally, Robert W. Baird lifted their target price on shares of Norfolk Southern from $330.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. According to MarketBeat.com, Norfolk Southern has an average rating of “Hold” and an average price target of $329.35.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.