NTV Asset Management LLC Makes New $222,000 Investment in Norfolk Southern Co. (NYSE:NSC)

NTV Asset Management LLC acquired a new position in shares of Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 940 shares of the railroad operator’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Exchange Traded Concepts LLC boosted its position in shares of Norfolk Southern by 662.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after acquiring an additional 106 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at $32,000. Provence Wealth Management Group acquired a new stake in shares of Norfolk Southern during the 3rd quarter worth $28,000. Creative Financial Designs Inc. ADV raised its position in shares of Norfolk Southern by 317.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 146 shares of the railroad operator’s stock worth $35,000 after buying an additional 111 shares during the period. Finally, Financial Connections Group Inc. acquired a new position in Norfolk Southern in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.7 %

Shares of NSC traded up $1.75 during midday trading on Friday, hitting $235.55. The company had a trading volume of 1,072,692 shares, compared to its average volume of 1,327,953. The stock has a market cap of $53.21 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 3.30 and a beta of 1.30. The company’s 50 day moving average price is $249.71 and its 200 day moving average price is $233.98. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the company earned $3.32 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts predict that Norfolk Southern Co. will post 11.62 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.29%. Norfolk Southern’s payout ratio is 86.96%.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of research reports. Loop Capital raised their price objective on Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Morgan Stanley downgraded shares of Norfolk Southern from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $185.00 to $175.00 in a research note on Monday, January 29th. Susquehanna reduced their target price on shares of Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. Stifel Nicolaus increased their price target on Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a report on Friday, April 12th. Finally, Sanford C. Bernstein upgraded Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price objective on the stock in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and a consensus price target of $262.32.

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 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.