Jones Financial Companies Lllp Acquires New Holdings in Norfolk Southern Corporation $NSC

Jones Financial Companies Lllp purchased a new position in Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 7,703 shares of the railroad operator’s stock, valued at approximately $2,423,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Norfolk Southern in the 2nd quarter worth $26,000. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern during the third quarter worth $25,000. Meeder Asset Management Inc. purchased a new position in shares of Norfolk Southern during the 2nd quarter valued at about $27,000. Comprehensive Financial Planning Inc. PA acquired a new position in Norfolk Southern in the second quarter valued at approximately $31,000. Finally, BNP Paribas purchased a new position in Norfolk Southern in the second quarter valued at $26,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $352.91 on Tuesday. The company has a fifty day simple moving average of $329.08 and a 200-day simple moving average of $313.85. The firm has a market capitalization of $79.27 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 6.21 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. Norfolk Southern Corporation has a 52-week low of $268.23 and a 52-week 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 for the quarter, topping the consensus estimate of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the firm posted $3.29 earnings per share. On average, equities analysts anticipate that Norfolk Southern Corporation will post 12.66 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm 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 1.5%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.08%.

Analyst Ratings Changes

A number of research firms recently issued reports on NSC. Barclays lifted their price target 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. Wells Fargo & Company raised their price target on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. UBS Group reiterated a “neutral” rating and issued a $363.00 price objective on shares of Norfolk Southern in a report on Friday, July 24th. Robert W. Baird boosted their price objective on Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, BMO Capital Markets increased their target price on Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern 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.