2,557 Shares in Norfolk Southern Corporation $NSC Purchased by Independent Financial Group LLC

Independent Financial Group LLC bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,557 shares of the railroad operator’s stock, valued at approximately $734,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. JPL Wealth Management LLC acquired a new stake in Norfolk Southern in the third quarter valued at $25,000. Meeder Asset Management Inc. raised its stake in shares of Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after buying an additional 67 shares during the last quarter. BNP Paribas acquired a new position in shares of Norfolk Southern during the 2nd quarter worth $26,000. Financial Life Planners purchased a new stake in shares of Norfolk Southern in the 1st quarter worth about $33,000. Finally, Bayban purchased a new stake in shares of Norfolk Southern in the 4th quarter worth about $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Trading Down 0.9%

Shares of NSC stock opened at $331.81 on Wednesday. The firm has a 50-day moving average price of $315.65 and a 200 day moving average price of $305.12. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $342.53. The company has a market capitalization of $74.52 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 6.12 and a beta of 1.27. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.16. The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company earned $2.69 EPS. Research analysts forecast that Norfolk Southern Corporation will post 12.24 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $1.35 per share. The ex-dividend date was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. Norfolk Southern’s dividend payout ratio (DPR) is 45.49%.

Analysts Set New Price Targets

NSC has been the subject of several recent research reports. Barclays raised their target price on shares of Norfolk Southern from $320.00 to $360.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Royal Bank Of Canada lowered their price target on shares of Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a research report on Wednesday, June 24th. Jefferies Financial Group dropped their price objective on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Sanford C. Bernstein cut their price objective on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Finally, Weiss Ratings lowered Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $329.35.

Norfolk Southern Company 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.