London Co. of Virginia Boosts Stock Holdings in Norfolk Southern Corporation $NSC

London Co. of Virginia lifted its stake in Norfolk Southern Corporation (NYSE:NSC) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,810,853 shares of the railroad operator’s stock after purchasing an additional 5,729 shares during the period. Norfolk Southern comprises about 3.0% of London Co. of Virginia’s investment portfolio, making the stock its 2nd largest position. London Co. of Virginia’s holdings in Norfolk Southern were worth $522,838,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. JPL Wealth Management LLC bought a new position in shares of Norfolk Southern in the third quarter worth about $25,000. BNP Paribas bought a new position in shares of Norfolk Southern in the second quarter worth about $26,000. GoalVest Advisory LLC grew its holdings in shares of Norfolk Southern by 933.3% in the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 84 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Norfolk Southern by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 67 shares during the last quarter. Finally, FNY Investment Advisers LLC grew its holdings in shares of Norfolk Southern by 669.2% in the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock worth $30,000 after purchasing an additional 87 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NSC. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Robert W. Baird upped their price target on shares of Norfolk Southern from $315.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. BMO Capital Markets upped their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a report on Monday, April 27th. Barclays upped their price target on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Weiss Ratings lowered shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $322.71.

Norfolk Southern Stock Up 0.2%

NYSE:NSC opened at $310.80 on Wednesday. Norfolk Southern Corporation has a 1-year low of $249.39 and a 1-year high of $326.00. The company has a 50-day moving average of $309.24 and a 200 day moving average of $300.49. The firm has a market cap of $69.80 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 5.73 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the firm earned $2.69 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts anticipate that Norfolk Southern Corporation will post 12.12 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern’s dividend payout ratio is 45.49%.

Norfolk Southern 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.