D.A. Davidson & CO. Has $5.21 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

D.A. Davidson & CO. boosted its position in Norfolk Southern Co. (NYSE:NSC) by 16.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,021 shares of the railroad operator’s stock after buying an additional 3,143 shares during the quarter. D.A. Davidson & CO.’s holdings in Norfolk Southern were worth $5,206,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Norfolk Southern during the 4th quarter worth approximately $2,933,000. BKM Wealth Management LLC acquired a new position in shares of Norfolk Southern during the 4th quarter worth approximately $1,444,000. Pathstone Family Office LLC boosted its stake in shares of Norfolk Southern by 200.1% during the 3rd quarter. Pathstone Family Office LLC now owns 16,077 shares of the railroad operator’s stock worth $3,198,000 after acquiring an additional 10,719 shares during the period. ClearBridge Investments Ltd bought a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $34,973,000. Finally, Cerity Partners LLC boosted its stake in shares of Norfolk Southern by 37.1% during the 4th quarter. Cerity Partners LLC now owns 150,998 shares of the railroad operator’s stock worth $35,692,000 after acquiring an additional 40,861 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley downgraded Norfolk Southern from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $185.00 to $175.00 in a research note on Monday, January 29th. BMO Capital Markets reduced their target price on Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating for the company in a research note on Monday, January 29th. Susquehanna reduced their target price on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, April 10th. Jefferies Financial Group started coverage on Norfolk Southern in a research note on Monday, April 8th. They issued a “buy” rating and a $300.00 price target for the company. Finally, UBS Group reduced their price target on Norfolk Southern from $302.00 to $294.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $261.78.

Norfolk Southern Price Performance

Shares of NSC opened at $230.62 on Thursday. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The business has a 50-day simple moving average of $242.78 and a two-hundred day simple moving average of $237.16. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37. The stock has a market cap of $52.10 billion, a PE ratio of 37.14, a PEG ratio of 2.12 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last issued its earnings results 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 analyst estimates of $3.05 billion. During the same period in the previous year, the company earned $3.32 EPS. Norfolk Southern’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts anticipate that Norfolk Southern Co. will post 11.88 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.34%. Norfolk Southern’s payout ratio is 86.96%.

Insider Activity

In related news, CMO Claude E. Elkins sold 8,329 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

About Norfolk Southern

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.