Norfolk Southern Corporation $NSC Stock Position Increased by Kentucky Retirement Systems

Kentucky Retirement Systems raised its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 79.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,504 shares of the railroad operator’s stock after purchasing an additional 11,325 shares during the period. Kentucky Retirement Systems’ holdings in Norfolk Southern were worth $7,320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPL Wealth Management LLC bought a new stake in shares of Norfolk Southern during the third quarter valued at approximately $25,000. BNP Paribas bought a new position in Norfolk Southern in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. grew its holdings in Norfolk Southern by 239.3% in 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 in the last quarter. Financial Life Planners acquired a new stake in Norfolk Southern in the 1st quarter valued at approximately $33,000. Finally, Bayban acquired a new stake in Norfolk Southern in the 4th quarter valued at approximately $34,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NSC opened at $336.55 on Thursday. The business has a 50 day moving average price of $318.76 and a two-hundred day moving average price of $307.37. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The company has a market capitalization of $75.59 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 6.03 and a beta of 1.27. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the firm earned $3.29 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. Research analysts predict that Norfolk Southern Corporation will post 12.6 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern’s payout ratio is presently 46.08%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Citigroup raised their price target on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Evercore set a $358.00 price objective on shares of Norfolk Southern in a report on Thursday, July 23rd. Wells Fargo & Company increased their target price on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Finally, Robert W. Baird raised their target price on shares of Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Hold” and an average target price of $348.00.

About Norfolk Southern

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.