New England Investment & Retirement Group Inc. Increases Position in Norfolk Southern Co. (NYSE:NSC)


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New England Investment & Retirement Group Inc. raised its stake in Norfolk Southern Co. (NYSE:NSC) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,272 shares of the railroad operator’s stock after buying an additional 158 shares during the period. New England Investment & Retirement Group Inc.’s holdings in Norfolk Southern were worth $1,684,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. IHT Wealth Management LLC bought a new stake in Norfolk Southern during the third quarter valued at about $603,000. Sei Investments Co. increased its holdings in shares of Norfolk Southern by 1.2% during the third quarter. Sei Investments Co. now owns 121,200 shares of the railroad operator’s stock worth $26,028,000 after buying an additional 1,378 shares in the last quarter. Thomasville National Bank grew its stake in shares of Norfolk Southern by 1.9% during the fourth quarter. Thomasville National Bank now owns 3,154 shares of the railroad operator’s stock valued at $750,000 after purchasing an additional 60 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Norfolk Southern by 84.9% during the fourth quarter. Private Trust Co. NA now owns 5,505 shares of the railroad operator’s stock valued at $1,308,000 after purchasing an additional 2,527 shares during the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services grew its stake in shares of Norfolk Southern by 2.0% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 6,411 shares of the railroad operator’s stock valued at $1,524,000 after purchasing an additional 128 shares during the last quarter. 67.25% of the stock is currently owned by institutional investors.

Shares of NYSE:NSC traded up $0.32 during trading on Tuesday, reaching $283.38. The stock had a trading volume of 777 shares, compared to its average volume of 1,168,598. The stock has a market cap of $70.91 billion, a price-to-earnings ratio of 36.43, a P/E/G ratio of 3.09 and a beta of 1.38. Norfolk Southern Co. has a 52 week low of $157.48 and a 52 week high of $287.43. The firm’s fifty day moving average is $271.25 and its 200 day moving average is $247.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.16 and a current ratio of 1.29.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, April 28th. The railroad operator reported $2.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.11. Norfolk Southern had a net margin of 20.27% and a return on equity of 15.83%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the firm earned $2.58 earnings per share. Norfolk Southern’s revenue was up .5% on a year-over-year basis. On average, research analysts forecast that Norfolk Southern Co. will post 9.1 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 20th. Stockholders of record on Friday, May 7th will be issued a $0.99 dividend. The ex-dividend date is Thursday, May 6th. This represents a $3.96 annualized dividend and a dividend yield of 1.40%. Norfolk Southern’s dividend payout ratio is currently 38.30%.

A number of brokerages have issued reports on NSC. BMO Capital Markets raised their price objective on shares of Norfolk Southern from $250.00 to $285.00 and gave the company a “market perform” rating in a research note on Thursday, April 29th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Norfolk Southern from $232.00 to $261.00 and gave the company a “hold” rating in a research note on Monday, March 29th. Morgan Stanley lifted their price objective on shares of Norfolk Southern from $145.00 to $165.00 and gave the company an “underweight” rating in a research report on Tuesday, April 13th. Cowen lifted their target price on shares of Norfolk Southern from $224.00 to $254.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Finally, Argus lifted their target price on shares of Norfolk Southern from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $259.24.

In other news, EVP Ann A. Adams sold 2,460 shares of the stock in a transaction dated Friday, February 19th. The shares were sold at an average price of $255.00, for a total value of $627,300.00. Following the completion of the sale, the executive vice president now owns 9,601 shares in the company, valued at $2,448,255. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Norfolk Southern Profile

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 industrial products, including agriculture, forest and consumer products, chemicals, and metals and construction materials; and coal, automobiles, and automotive parts.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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