Norfolk Southern Corporation $NSC is Taylor Financial Group Inc.’s 2nd Largest Position

Taylor Financial Group Inc. raised its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 0.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,190 shares of the railroad operator’s stock after buying an additional 256 shares during the quarter. Norfolk Southern accounts for 13.5% of Taylor Financial Group Inc.’s portfolio, making the stock its 2nd largest position. Taylor Financial Group Inc.’s holdings in Norfolk Southern were worth $21,550,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in NSC. Price T Rowe Associates Inc. MD raised its holdings in shares of Norfolk Southern by 31.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock valued at $2,680,910,000 after acquiring an additional 2,710,930 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in Norfolk Southern during the 2nd quarter worth approximately $321,393,000. Adage Capital Partners GP L.L.C. grew its position in Norfolk Southern by 341.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator’s stock worth $187,100,000 after purchasing an additional 611,198 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Norfolk Southern in the first quarter worth $122,256,000. Finally, Phoenix Financial Ltd. acquired a new stake in shares of Norfolk Southern in the first quarter worth $110,209,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.4%

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

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.01). The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.25 earnings per share. Sell-side analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Baird R W raised Norfolk Southern to a “hold” rating in a research note on Tuesday, July 1st. UBS Group dropped their target price on Norfolk Southern from $321.00 to $320.00 and set a “buy” rating on the stock in a report on Friday. Robert W. Baird upped their target price on Norfolk Southern from $255.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Sanford C. Bernstein boosted their price objective on shares of Norfolk Southern from $295.00 to $305.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Finally, Royal Bank Of Canada lowered their price objective on shares of Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating on the stock in a research report on Friday. Seven equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $299.70.

Norfolk Southern Company 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.