Brooks Moore & Associates Inc. bought a new stake in Norfolk Southern Corporation (NYSE:NSC – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,081 shares of the railroad operator’s stock, valued at approximately $1,913,000.
Other large investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new position in Norfolk Southern in the first quarter valued at about $3,272,000. O Shaughnessy Asset Management LLC increased its holdings in Norfolk Southern by 9.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after purchasing an additional 3,887 shares during the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new stake in Norfolk Southern during the 2nd quarter worth approximately $3,669,000. SCS Capital Management LLC acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at approximately $13,837,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at approximately $1,376,000. 75.10% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
NSC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Barclays increased their price objective on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. BMO Capital Markets raised their price objective on shares of Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Royal Bank Of Canada upped their target price on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $348.00.
Norfolk Southern Stock Performance
Shares of NSC stock opened at $347.32 on Friday. The company has a market cap of $78.01 billion, a P/E ratio of 29.63, a PEG ratio of 5.29 and a beta of 1.27. The business has a 50 day moving average of $331.90 and a two-hundred day moving average of $314.78. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98.
Norfolk Southern (NYSE:NSC – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the business posted $3.29 EPS. The business’s revenue was up 12.5% on a year-over-year basis. As a group, analysts anticipate that Norfolk Southern Corporation will post 12.74 EPS for the current year.
Norfolk Southern Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.
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.
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