Envestnet Portfolio Solutions Inc. Has $2.11 Million Stake in Norfolk Southern Co. (NYSE:NSC)

Envestnet Portfolio Solutions Inc. grew its holdings in Norfolk Southern Co. (NYSE:NSC) by 65.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,003 shares of the railroad operator’s stock after buying an additional 3,546 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Norfolk Southern were worth $2,113,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NSC. Financial Life Planners acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $27,000. Keystone Financial Group Inc. acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $27,000. Bank of Jackson Hole Trust acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $27,000. Vision Financial Markets LLC acquired a new stake in Norfolk Southern during the 4th quarter worth approximately $28,000. Finally, Morse Asset Management Inc acquired a new stake in Norfolk Southern during the 3rd quarter worth approximately $30,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NSC shares. Susquehanna dropped their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft started coverage on Norfolk Southern in a report on Friday, March 7th. They set a “buy” rating and a $293.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Loop Capital cut Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price objective for the company from $289.00 to $256.00 in a report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their price objective on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.95.

Norfolk Southern Trading Down 0.5 %

Shares of NSC opened at $233.45 on Friday. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The business’s fifty day moving average is $246.07 and its 200-day moving average is $250.02. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The firm has a market cap of $52.86 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Equities analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.31%. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Insiders Place Their Bets

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 607 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were bought at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.19% of the company’s stock.

Norfolk Southern 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.