Welch Group LLC Purchases 11,380 Shares of Norfolk Southern Corporation $NSC

Welch Group LLC increased its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 364.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,503 shares of the railroad operator’s stock after purchasing an additional 11,380 shares during the quarter. Welch Group LLC’s holdings in Norfolk Southern were worth $4,162,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NSC. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern in the 3rd quarter worth approximately $25,000. GoalVest Advisory LLC increased its position in shares of Norfolk Southern by 933.3% during the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after acquiring an additional 84 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 67 shares during the period. FNY Investment Advisers LLC lifted its holdings in Norfolk Southern by 669.2% during the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock worth $30,000 after acquiring an additional 87 shares during the period. Finally, BNP Paribas purchased a new position in Norfolk Southern in the second quarter worth $26,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Up 0.3%

NSC stock opened at $312.88 on Friday. The stock has a 50-day simple moving average of $310.79 and a two-hundred day simple moving average of $301.10. Norfolk Southern Corporation has a twelve month low of $254.18 and a twelve month high of $326.00. The firm has a market capitalization of $70.27 billion, a PE ratio of 26.36, a PEG ratio of 5.76 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) 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 firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the firm posted $2.69 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts predict that Norfolk Southern Corporation will post 12.12 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

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

Analyst Ratings Changes

NSC has been the subject of a number of recent analyst reports. Barclays upped their price objective on Norfolk Southern from $320.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Zacks Research upgraded shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. TD Cowen lifted their price objective on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Evercore set a $325.00 target price on shares of Norfolk Southern in a research report on Friday, April 24th. Finally, Susquehanna raised their price target on shares of Norfolk Southern from $330.00 to $337.00 and gave the stock a “neutral” rating in a research note on Friday, June 5th. Six analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $320.35.

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.