GWM Advisors LLC grew its holdings in Norfolk Southern Corp. (NYSE:NSC) by 17.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,229 shares of the railroad operator’s stock after purchasing an additional 636 shares during the period. GWM Advisors LLC’s holdings in Norfolk Southern were worth $843,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Norfolk Southern by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,210,893 shares of the railroad operator’s stock worth $480,144,000 after purchasing an additional 17,877 shares in the last quarter. Geode Capital Management LLC boosted its stake in Norfolk Southern by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 3,364,851 shares of the railroad operator’s stock worth $502,245,000 after purchasing an additional 221,780 shares in the last quarter. Eagle Global Advisors LLC raised its position in Norfolk Southern by 2.0% in the 1st quarter. Eagle Global Advisors LLC now owns 2,550 shares of the railroad operator’s stock worth $477,000 after buying an additional 50 shares during the last quarter. Investors Research Corp purchased a new position in Norfolk Southern in the 1st quarter worth about $93,000. Finally, Brinker Capital Inc. raised its position in Norfolk Southern by 8.4% in the 1st quarter. Brinker Capital Inc. now owns 13,183 shares of the railroad operator’s stock worth $2,464,000 after buying an additional 1,025 shares during the last quarter. 73.26% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the company. Barclays boosted their target price on Norfolk Southern from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Loop Capital boosted their target price on Norfolk Southern to $237.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Argus boosted their target price on Norfolk Southern from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. BMO Capital Markets boosted their target price on Norfolk Southern from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, April 25th. Finally, ValuEngine lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $205.83.
NYSE NSC opened at $175.33 on Thursday. Norfolk Southern Corp. has a 52 week low of $138.65 and a 52 week high of $211.46. The firm has a market capitalization of $45.93 billion, a P/E ratio of 18.44, a PEG ratio of 1.41 and a beta of 1.31. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $188.81 and a 200-day moving average price of $190.52.
Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, July 24th. The railroad operator reported $2.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.77 by ($0.07). Norfolk Southern had a net margin of 24.15% and a return on equity of 18.24%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the company earned $2.50 EPS. Norfolk Southern’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities research analysts anticipate that Norfolk Southern Corp. will post 10.67 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 5th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $3.76 annualized dividend and a dividend yield of 2.14%. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.86. Norfolk Southern’s dividend payout ratio is presently 39.54%.
About Norfolk Southern
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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