Cullen Investment Group LTD. Acquires New Stake in Norfolk Southern Co. (NYSE:NSC)

Cullen Investment Group LTD. acquired a new stake in Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,190 shares of the railroad operator’s stock, valued at approximately $281,000.

Other institutional investors have also added to or reduced their stakes in the company. Boltwood Capital Management increased its stake in Norfolk Southern by 2.1% in the 4th quarter. Boltwood Capital Management now owns 2,145 shares of the railroad operator’s stock valued at $507,000 after buying an additional 45 shares during the last quarter. Cadinha & Co. LLC increased its stake in Norfolk Southern by 2.6% in the 4th quarter. Cadinha & Co. LLC now owns 1,896 shares of the railroad operator’s stock valued at $448,000 after buying an additional 48 shares during the last quarter. Northwest Investment Counselors LLC increased its stake in Norfolk Southern by 23.6% in the 3rd quarter. Northwest Investment Counselors LLC now owns 262 shares of the railroad operator’s stock valued at $52,000 after buying an additional 50 shares during the last quarter. Bridge Creek Capital Management LLC increased its stake in Norfolk Southern by 0.5% in the 3rd quarter. Bridge Creek Capital Management LLC now owns 10,454 shares of the railroad operator’s stock valued at $2,059,000 after buying an additional 50 shares during the last quarter. Finally, Salem Investment Counselors Inc. increased its stake in Norfolk Southern by 1.1% in the 4th quarter. Salem Investment Counselors Inc. now owns 4,403 shares of the railroad operator’s stock valued at $1,041,000 after buying an additional 50 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Performance

NYSE NSC opened at $245.57 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $60.46 billion, a P/E ratio of 30.62, a P/E/G ratio of 3.33 and a beta of 1.30. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The firm has a 50-day moving average price of $253.91 and a two-hundred day moving average price of $230.00.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.04). The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.09 billion. Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.42 EPS. Analysts anticipate that Norfolk Southern Co. will post 12 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 2nd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Thursday, February 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 67.33%.

Wall Street Analysts Forecast Growth

NSC has been the topic of several recent research reports. TD Cowen lifted their price target on shares of Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. UBS Group upgraded shares of Norfolk Southern from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $238.00 to $302.00 in a research note on Monday, March 4th. Susquehanna lowered their price objective on shares of Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Barclays upgraded shares of Norfolk Southern from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $255.00 to $305.00 in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus boosted their price objective on shares of Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average price target of $262.33.

Norfolk Southern Company 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.