Manchester Capital Management LLC Purchases 707 Shares of Norfolk Southern Co. (NYSE:NSC)

Manchester Capital Management LLC raised its position in Norfolk Southern Co. (NYSE:NSC) by 124.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,277 shares of the railroad operator’s stock after acquiring an additional 707 shares during the quarter. Manchester Capital Management LLC’s holdings in Norfolk Southern were worth $325,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Ruedi Wealth Management Inc. grew its stake in Norfolk Southern by 41.5% in the 1st quarter. Ruedi Wealth Management Inc. now owns 184 shares of the railroad operator’s stock valued at $47,000 after buying an additional 54 shares during the last quarter. Broderick Brian C acquired a new position in shares of Norfolk Southern in the first quarter valued at approximately $956,000. SPC Financial Inc. acquired a new stake in Norfolk Southern during the 1st quarter worth approximately $460,000. Csenge Advisory Group boosted its stake in Norfolk Southern by 3.9% in the 1st quarter. Csenge Advisory Group now owns 1,153 shares of the railroad operator’s stock valued at $294,000 after purchasing an additional 43 shares during the period. Finally, Richardson Financial Services Inc. acquired a new position in Norfolk Southern in the 1st quarter valued at $45,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Trading Up 0.4 %

NYSE:NSC traded up $0.82 on Friday, reaching $221.76. 148,684 shares of the stock traded hands, compared to its average volume of 1,302,596. 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’s 50 day moving average is $223.09 and its 200-day moving average is $237.86. The firm has a market capitalization of $50.10 billion, a price-to-earnings ratio of 35.58, a price-to-earnings-growth ratio of 2.08 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.09). The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. Norfolk Southern’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.32 EPS. Equities research analysts anticipate that Norfolk Southern Co. will post 11.8 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Insiders Place Their Bets

In other news, CMO Claude E. Elkins sold 8,329 shares of the company’s stock in a transaction that occurred on 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 can be accessed through this hyperlink. In other news, CMO Claude E. Elkins sold 8,329 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Claude Mongeau purchased 5,650 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average cost of $221.00 per share, with a total value of $1,248,650.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $4,420,000. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays reduced their target price on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. UBS Group decreased their target price on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. TD Cowen boosted their price target 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 objective on Norfolk Southern from $265.00 to $245.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Finally, Benchmark reissued a “buy” rating and set a $277.00 target price on shares of Norfolk Southern in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus price target of $263.82.

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.