Global Retirement Partners LLC Takes Position in Norfolk Southern Corporation $NSC

Global Retirement Partners LLC acquired a new position in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, HoldingsChannel.com reports. The fund acquired 2,986 shares of the railroad operator’s stock, valued at approximately $939,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NSC. Louisiana State Employees Retirement System bought a new position in Norfolk Southern during the first quarter worth $3,272,000. O Shaughnessy Asset Management LLC increased its stake in Norfolk Southern by 9.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock valued at $12,533,000 after purchasing an additional 3,887 shares in the last quarter. SCS Capital Management LLC acquired a new position in shares of Norfolk Southern during the second quarter valued at about $13,837,000. Focus Partners Advisor Solutions LLC acquired a new position in shares of Norfolk Southern during the second quarter valued at about $1,376,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in shares of Norfolk Southern by 49.3% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 50,620 shares of the railroad operator’s stock valued at $14,615,000 after buying an additional 16,720 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 0.5%

Shares of NSC opened at $339.44 on Wednesday. The stock has a market capitalization of $76.24 billion, a P/E ratio of 28.96, a PEG ratio of 5.92 and a beta of 1.27. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $326.03 and a two-hundred day simple moving average of $312.27. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60.

Norfolk Southern (NYSE:NSC) last posted 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 net margin of 21.02% and a return on equity of 18.21%. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the business posted $3.29 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, research analysts anticipate that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be paid a $1.35 dividend. The ex-dividend date is Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. Norfolk Southern’s payout ratio is currently 46.08%.

Analysts Set New Price Targets

A number of brokerages have commented on NSC. Citigroup boosted their price target on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. BMO Capital Markets boosted their target price on shares of Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Wells Fargo & Company upped their target price on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Finally, Rothschild & Co Redburn lifted their price target on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Norfolk Southern currently has an average rating of “Hold” and an average target price of $348.00.

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.