Carroll Financial Associates Inc. lifted its position in Norfolk Southern Corp. (NYSE:NSC) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,041 shares of the railroad operator’s stock after purchasing an additional 216 shares during the quarter. Carroll Financial Associates Inc.’s holdings in Norfolk Southern were worth $1,204,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Joseph P. Lucia & Associates LLC acquired a new position in Norfolk Southern during the first quarter worth $25,000. Weaver Consulting Group acquired a new position in Norfolk Southern during the first quarter worth $30,000. Pinnacle Bank acquired a new position in Norfolk Southern during the fourth quarter worth $33,000. Advisory Alpha LLC acquired a new position in Norfolk Southern during the first quarter worth $42,000. Finally, Executive Wealth Management LLC acquired a new position in Norfolk Southern during the fourth quarter worth $65,000. Institutional investors and hedge funds own 73.49% of the company’s stock.
NSC has been the subject of several recent analyst reports. Morgan Stanley set a $130.00 price objective on Norfolk Southern and gave the stock a “sell” rating in a research note on Monday, July 8th. Loop Capital increased their price objective on Norfolk Southern to $237.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Deutsche Bank dropped their price objective on Norfolk Southern from $198.00 to $196.00 and set a “hold” rating for the company in a research note on Wednesday, June 12th. TD Securities dropped their price objective on Norfolk Southern from $225.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, Cowen restated an “outperform” rating and issued a $230.00 target price (up from $200.00) on shares of Norfolk Southern in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $205.83.
Shares of NYSE:NSC opened at $169.85 on Friday. Norfolk Southern Corp. has a twelve month low of $138.65 and a twelve month high of $211.46. The firm has a market cap of $44.91 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.41 and a beta of 1.31. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.68 and a current ratio of 0.78. The business has a fifty day moving average of $191.82 and a 200-day moving average of $190.82.
Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.77 by ($0.07). The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.95 billion. Norfolk Southern had a net margin of 24.15% and a return on equity of 18.24%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 earnings per share. On average, analysts anticipate that Norfolk Southern Corp. will post 10.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 5th will be issued a $0.94 dividend. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, August 2nd. This represents a $3.76 annualized dividend and a yield of 2.21%. Norfolk Southern’s dividend payout ratio (DPR) is currently 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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