Pekin Hardy Strauss Inc. Purchases 2,501 Shares of Norfolk Southern Corporation $NSC

Pekin Hardy Strauss Inc. lifted its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 252.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,493 shares of the railroad operator’s stock after buying an additional 2,501 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Norfolk Southern were worth $1,008,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in Norfolk Southern in the 4th quarter valued at about $38,000. Cadence Bank increased its holdings in shares of Norfolk Southern by 0.4% during the fourth quarter. Cadence Bank now owns 11,316 shares of the railroad operator’s stock worth $3,267,000 after purchasing an additional 47 shares during the period. Wealthfront Advisers LLC increased its holdings in shares of Norfolk Southern by 5.4% during the fourth quarter. Wealthfront Advisers LLC now owns 18,099 shares of the railroad operator’s stock worth $5,226,000 after purchasing an additional 932 shares during the period. Torren Management LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $57,000. Finally, M&T Bank Corp raised its position in shares of Norfolk Southern by 1.5% in the fourth quarter. M&T Bank Corp now owns 141,192 shares of the railroad operator’s stock valued at $40,765,000 after buying an additional 2,123 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Down 1.4%

Shares of NSC opened at $312.28 on Thursday. The firm has a 50 day simple moving average of $299.61 and a two-hundred day simple moving average of $294.20. 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 Corporation has a one year low of $218.05 and a one year high of $323.37. The company has a market cap of $70.14 billion, a P/E ratio of 26.31, a P/E/G ratio of 5.89 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the business posted $2.69 EPS. The company’s revenue was up .2% compared to the same quarter last year. Research analysts forecast that Norfolk Southern Corporation will post 12.11 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NSC shares. Barclays increased their price target on Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. cut their target price on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. BMO Capital Markets increased their target price on Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a report on Monday. Citigroup restated a “neutral” rating on shares of Norfolk Southern in a research report on Friday, April 24th. Finally, Zacks Research raised Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Six equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $320.28.

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.