Norfolk Southern Co. (NYSE:NSC) Shares Bought by Eaton Vance Management

Eaton Vance Management increased its stake in Norfolk Southern Co. (NYSE:NSC) by 7.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 450,507 shares of the railroad operator’s stock after purchasing an additional 30,372 shares during the period. Eaton Vance Management owned 0.18% of Norfolk Southern worth $120,970,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DnB Asset Management AS lifted its holdings in shares of Norfolk Southern by 12.5% in the 1st quarter. DnB Asset Management AS now owns 58,647 shares of the railroad operator’s stock worth $15,748,000 after purchasing an additional 6,516 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Norfolk Southern by 2.7% in the 1st quarter. Glenmede Trust Co. NA now owns 77,940 shares of the railroad operator’s stock worth $20,927,000 after purchasing an additional 2,018 shares during the last quarter. Souders Financial Advisors lifted its holdings in shares of Norfolk Southern by 5.3% in the 1st quarter. Souders Financial Advisors now owns 8,970 shares of the railroad operator’s stock worth $2,409,000 after purchasing an additional 454 shares during the last quarter. Mariner LLC lifted its holdings in shares of Norfolk Southern by 16.7% in the 1st quarter. Mariner LLC now owns 32,138 shares of the railroad operator’s stock worth $8,630,000 after purchasing an additional 4,602 shares during the last quarter. Finally, Tiemann Investment Advisors LLC lifted its holdings in shares of Norfolk Southern by 2,128.3% in the 1st quarter. Tiemann Investment Advisors LLC now owns 19,141 shares of the railroad operator’s stock worth $1,486,000 after purchasing an additional 18,282 shares during the last quarter. 72.48% of the stock is currently owned by institutional investors and hedge funds.

NSC has been the topic of several recent analyst reports. Benchmark lifted their target price on Norfolk Southern from $295.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, April 29th. BMO Capital Markets lifted their target price on Norfolk Southern from $250.00 to $285.00 and gave the company a “market perform” rating in a research note on Thursday, April 29th. They noted that the move was a valuation call. Stifel Nicolaus initiated coverage on Norfolk Southern in a research note on Monday, June 21st. They set a “hold” rating on the stock. TD Securities lifted their target price on Norfolk Southern from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, April 29th. Finally, Royal Bank of Canada lifted their target price on Norfolk Southern from $234.00 to $254.00 in a research note on Thursday, April 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $270.41.

In other news, VP Clyde H. Allison, Jr. sold 3,700 shares of Norfolk Southern stock in a transaction on Tuesday, May 11th. The stock was sold at an average price of $288.30, for a total transaction of $1,066,710.00. Following the transaction, the vice president now owns 45,632 shares in the company, valued at $13,155,705.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Shares of NSC stock opened at $260.65 on Thursday. Norfolk Southern Co. has a 1-year low of $184.21 and a 1-year high of $295.14. The company has a quick ratio of 0.92, a current ratio of 1.02 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $65.23 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company’s fifty day simple moving average is $271.00.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, April 28th. The railroad operator reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.11. Norfolk Southern had a return on equity of 16.07% and a net margin of 23.51%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the company posted $2.58 earnings per share. Norfolk Southern’s revenue for the quarter was up .5% compared to the same quarter last year. On average, analysts anticipate that Norfolk Southern Co. will post 11.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 20th. Stockholders of record on Friday, May 7th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, May 6th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.52%. Norfolk Southern’s dividend payout ratio is 42.81%.

About Norfolk Southern

Norfolk Southern Corp. is a transportation company, which owns a freight railroad. It engages in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange with rail carriers, to and from the rest of the United States.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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