Fernwood Investment Management LLC Buys Shares of 1,000 Norfolk Southern Co. (NYSE:NSC)

Fernwood Investment Management LLC acquired a new position in Norfolk Southern Co. (NYSE:NSC) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,000 shares of the railroad operator’s stock, valued at approximately $236,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Anchor Capital Advisors LLC lifted its stake in shares of Norfolk Southern by 18.5% in the 4th quarter. Anchor Capital Advisors LLC now owns 155,695 shares of the railroad operator’s stock worth $36,803,000 after acquiring an additional 24,280 shares during the period. Israel Discount Bank of New York raised its stake in shares of Norfolk Southern by 2.1% in the 4th quarter. Israel Discount Bank of New York now owns 2,367 shares of the railroad operator’s stock worth $560,000 after buying an additional 48 shares in the last quarter. Choreo LLC lifted its holdings in shares of Norfolk Southern by 4.4% in the fourth quarter. Choreo LLC now owns 11,334 shares of the railroad operator’s stock valued at $2,679,000 after buying an additional 475 shares during the period. Mather Group LLC. boosted its stake in Norfolk Southern by 1.7% during the fourth quarter. Mather Group LLC. now owns 3,255 shares of the railroad operator’s stock valued at $769,000 after buying an additional 53 shares in the last quarter. Finally, Blue Chip Partners LLC grew its holdings in Norfolk Southern by 0.6% during the fourth quarter. Blue Chip Partners LLC now owns 7,654 shares of the railroad operator’s stock worth $1,809,000 after acquiring an additional 47 shares during the period. Institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NSC shares. Royal Bank of Canada restated a “sector perform” rating and set a $270.00 price objective on shares of Norfolk Southern in a research report on Wednesday, April 10th. The Goldman Sachs Group upped their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Jefferies Financial Group assumed coverage on Norfolk Southern in a report on Monday, April 8th. They issued a “buy” rating and a $300.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, TD Cowen upped their price objective on shares of Norfolk Southern from $236.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.32.

Norfolk Southern Price Performance

Shares of NSC traded down $9.43 during mid-day trading on Tuesday, reaching $232.01. 1,430,628 shares of the stock traded hands, compared to its average volume of 1,290,939. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66. The company has a market cap of $52.41 billion, a price-to-earnings ratio of 38.86, a price-to-earnings-growth ratio of 3.31 and a beta of 1.30. The firm has a fifty day moving average price of $251.61 and a 200 day moving average price of $233.21.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the company posted $3.32 earnings per share. Norfolk Southern’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, equities research analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio is currently 86.96%.

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.