Tyche Wealth Partners LLC Takes $984,000 Position in Norfolk Southern Co. (NYSE:NSC)

Tyche Wealth Partners LLC purchased a new stake in Norfolk Southern Co. (NYSE:NSC) during the fourth quarter, Holdings Channel reports. The firm purchased 4,163 shares of the railroad operator’s stock, valued at approximately $984,000.

Other large investors have also recently bought and sold shares of the company. Worth Asset Management LLC bought a new stake in Norfolk Southern in the first quarter valued at $30,000. Exchange Traded Concepts LLC boosted its stake in Norfolk Southern by 662.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after purchasing an additional 106 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Norfolk Southern in the fourth quarter worth $32,000. Provence Wealth Management Group acquired a new position in Norfolk Southern in the third quarter worth $28,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in Norfolk Southern by 317.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 146 shares of the railroad operator’s stock worth $35,000 after purchasing an additional 111 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NSC has been the topic of a number of recent analyst reports. Morgan Stanley lowered Norfolk Southern from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $185.00 to $175.00 in a research note on Monday, January 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $270.00 price objective on shares of Norfolk Southern in a research note on Wednesday, April 10th. The Goldman Sachs Group upped their price target on Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. TheStreet raised Norfolk Southern from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Finally, JPMorgan Chase & Co. upped their price target on Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $262.33.

Norfolk Southern Trading Down 1.1 %

NYSE:NSC traded down $2.67 during mid-day trading on Tuesday, hitting $242.90. The company had a trading volume of 823,416 shares, compared to its average volume of 1,283,550. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The business’s fifty day moving average is $253.91 and its two-hundred day moving average is $230.00. The firm has a market cap of $59.80 billion, a P/E ratio of 30.62, a P/E/G ratio of 3.33 and a beta of 1.30. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.14 and a current ratio of 1.24.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.04). Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company earned $3.42 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. As a group, research analysts expect that Norfolk Southern Co. will post 12 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 2nd were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.22%. Norfolk Southern’s dividend payout ratio (DPR) is currently 67.33%.

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.