Duff & Phelps Investment Management Co. Increases Stock Position in Norfolk Southern Co. (NYSE:NSC)

Duff & Phelps Investment Management Co. raised its holdings in Norfolk Southern Co. (NYSE:NSC) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,722 shares of the railroad operator’s stock after purchasing an additional 5,473 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Norfolk Southern were worth $24,754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in NSC. Provence Wealth Management Group acquired a new stake in shares of Norfolk Southern during the 3rd quarter valued at approximately $28,000. Exchange Traded Concepts LLC lifted its position in shares of Norfolk Southern by 662.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after acquiring an additional 106 shares during the period. Operose Advisors LLC acquired a new stake in shares of Norfolk Southern during the 3rd quarter valued at approximately $32,000. Orion Capital Management LLC acquired a new stake in shares of Norfolk Southern during the 3rd quarter valued at approximately $32,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Norfolk Southern during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 3.9 %

Norfolk Southern stock traded down $9.50 during trading on Tuesday, reaching $231.94. 1,804,758 shares of the company’s stock were exchanged, compared to its average volume of 1,297,782. The company’s 50-day moving average is $251.61 and its two-hundred day moving average is $233.21. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66. The firm has a market cap of $52.40 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 3.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last announced its quarterly 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). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the company posted $3.32 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be given a $1.35 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.33%. Norfolk Southern’s payout ratio is currently 86.96%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NSC. JPMorgan Chase & Co. lifted their price objective on Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Susquehanna cut their price objective on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, April 10th. BMO Capital Markets cut their price objective on Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating for the company in a research report on Monday, January 29th. TD Cowen boosted their price target on Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. Finally, Jefferies Financial Group began coverage on Norfolk Southern in a report on Monday, April 8th. They issued a “buy” rating and a $300.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus target price of $262.32.

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.