11,199 Shares in Norfolk Southern Corporation $NSC Acquired by Roberts Glore & Co. Inc. IL

Roberts Glore & Co. Inc. IL bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 11,199 shares of the railroad operator’s stock, valued at approximately $3,523,000. Norfolk Southern accounts for about 0.9% of Roberts Glore & Co. Inc. IL’s portfolio, making the stock its 29th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after buying an additional 79 shares during the last quarter. Intech Investment Management LLC lifted its position in Norfolk Southern by 40.4% during the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after acquiring an additional 1,855 shares during the period. Sivia Capital Partners LLC purchased a new stake in Norfolk Southern during the 2nd quarter valued at about $327,000. Schnieders Capital Management LLC. increased its holdings in shares of Norfolk Southern by 64.1% in the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock valued at $1,094,000 after purchasing an additional 1,670 shares during the period. Finally, Jump Financial LLC raised its stake in shares of Norfolk Southern by 185.1% in the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after purchasing an additional 2,979 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Susquehanna upped their target price on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Robert W. Baird upped their price objective on shares of Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Weiss Ratings raised shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. Citigroup upped their price target on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, UBS Group reaffirmed a “neutral” rating and set a $363.00 price target on shares of Norfolk Southern in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern Price Performance

NYSE:NSC opened at $351.73 on Wednesday. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The stock has a 50 day moving average of $329.90 and a two-hundred day moving average of $314.17. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The firm has a market cap of $79.00 billion, a P/E ratio of 30.01, a price-to-earnings-growth ratio of 6.25 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.20. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.29 earnings per share. On average, analysts expect that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were issued a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.5%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.

Norfolk Southern Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.