Howe & Rusling Inc. Buys 6,740 Shares of Norfolk Southern Co. (NYSE:NSC)

Howe & Rusling Inc. grew its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 58.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,337 shares of the railroad operator’s stock after acquiring an additional 6,740 shares during the quarter. Howe & Rusling Inc.’s holdings in Norfolk Southern were worth $4,335,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC lifted its holdings in shares of Norfolk Southern by 662.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after purchasing an additional 106 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of Norfolk Southern during the 4th quarter valued at about $32,000. Provence Wealth Management Group bought a new stake in Norfolk Southern in the 3rd quarter valued at approximately $28,000. Creative Financial Designs Inc. ADV lifted its stake in Norfolk Southern by 317.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 146 shares of the railroad operator’s stock valued at $35,000 after acquiring an additional 111 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new stake in Norfolk Southern in the 4th quarter valued at approximately $34,000. Institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NSC. TD Cowen boosted their target price on Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. Susquehanna lowered their price target on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th. Stifel Nicolaus boosted their price target on Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Citigroup boosted their price target on Norfolk Southern from $253.00 to $286.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Finally, Loop Capital boosted their price target on Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.32.

Norfolk Southern Stock Performance

NYSE NSC traded up $1.74 on Wednesday, reaching $232.06. The stock had a trading volume of 1,184,781 shares, compared to its average volume of 1,317,694. The firm has a fifty day moving average of $251.14 and a two-hundred day moving average of $233.41. The company has a market cap of $52.42 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 3.33 and a beta of 1.30. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year 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 for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the company earned $3.32 earnings per share. Norfolk Southern’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 3rd will be given 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 dividend yield of 2.33%. 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.