Teacher Retirement System of Texas Purchases 10,990 Shares of Norfolk Southern Corporation $NSC

Teacher Retirement System of Texas lifted its position in Norfolk Southern Corporation (NYSE:NSC) by 10.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 116,795 shares of the railroad operator’s stock after purchasing an additional 10,990 shares during the period. Teacher Retirement System of Texas’ holdings in Norfolk Southern were worth $29,896,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its holdings in shares of Norfolk Southern by 883.3% in the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock valued at $42,000 after purchasing an additional 159 shares during the period. Morningstar Investment Management LLC purchased a new stake in shares of Norfolk Southern in the second quarter valued at approximately $597,000. GC Wealth Management RIA LLC boosted its holdings in shares of Norfolk Southern by 52.5% in the second quarter. GC Wealth Management RIA LLC now owns 4,441 shares of the railroad operator’s stock valued at $1,137,000 after purchasing an additional 1,528 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Norfolk Southern by 4.6% in the second quarter. Sequoia Financial Advisors LLC now owns 76,057 shares of the railroad operator’s stock valued at $19,468,000 after purchasing an additional 3,367 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Norfolk Southern by 6.4% in the second quarter. Nordea Investment Management AB now owns 19,598 shares of the railroad operator’s stock valued at $5,012,000 after purchasing an additional 1,178 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of research reports. Citigroup lowered their price target on Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating for the company in a report on Friday. TD Cowen reduced their price objective on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a research note on Friday. Bank of America boosted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research note on Monday. Finally, Royal Bank Of Canada reduced their price objective on shares of Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating for the company in a research note on Friday. Seven analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $299.70.

Norfolk Southern Price Performance

Shares of NSC opened at $281.56 on Tuesday. The firm has a market capitalization of $63.18 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.53 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $302.24. The company’s fifty day moving average price is $285.81 and its 200-day moving average price is $263.28.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. Norfolk Southern’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the firm earned $3.25 earnings per share. On average, equities research analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern’s payout ratio is 41.19%.

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.