Cable Hill Partners LLC purchased a new position in shares of Norfolk Southern Co. (NYSE:NSC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,375 shares of the railroad operator’s stock, valued at approximately $365,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Jacobi Capital Management LLC boosted its holdings in Norfolk Southern by 0.6% in the second quarter. Jacobi Capital Management LLC now owns 6,178 shares of the railroad operator’s stock worth $1,640,000 after purchasing an additional 38 shares during the period. NEXT Financial Group Inc boosted its holdings in Norfolk Southern by 1.4% in the second quarter. NEXT Financial Group Inc now owns 2,829 shares of the railroad operator’s stock worth $751,000 after purchasing an additional 39 shares during the period. Ziegler Capital Management LLC boosted its holdings in Norfolk Southern by 1.0% in the second quarter. Ziegler Capital Management LLC now owns 3,980 shares of the railroad operator’s stock worth $1,056,000 after purchasing an additional 40 shares during the period. We Are One Seven LLC boosted its holdings in Norfolk Southern by 2.9% in the second quarter. We Are One Seven LLC now owns 1,419 shares of the railroad operator’s stock worth $377,000 after purchasing an additional 40 shares during the period. Finally, Coldstream Capital Management Inc. boosted its holdings in Norfolk Southern by 2.0% in the first quarter. Coldstream Capital Management Inc. now owns 2,104 shares of the railroad operator’s stock worth $565,000 after purchasing an additional 41 shares during the period. 72.27% of the stock is owned by hedge funds and other institutional investors.
NSC has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on shares of Norfolk Southern from $318.00 to $312.00 and set an “overweight” rating for the company in a report on Thursday, October 7th. Stifel Nicolaus started coverage on Norfolk Southern in a research note on Monday, June 21st. They issued a “hold” rating on the stock. Atlantic Securities started coverage on Norfolk Southern in a research note on Monday, July 12th. They issued a “neutral” rating and a $276.00 target price on the stock. Evercore ISI upgraded Norfolk Southern from an “in-line” rating to an “outperform” rating and raised their target price for the company from $301.00 to $303.00 in a research note on Friday, July 9th. Finally, Citigroup cut their target price on Norfolk Southern from $325.00 to $310.00 and set a “buy” rating on the stock in a research note on Wednesday, October 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $278.53.
Norfolk Southern stock traded up $4.80 during midday trading on Thursday, hitting $267.05. The company’s stock had a trading volume of 35,226 shares, compared to its average volume of 1,193,246. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.88. The stock’s 50-day moving average price is $254.14 and its 200-day moving average price is $265.77. Norfolk Southern Co. has a 12 month low of $196.15 and a 12 month high of $295.14. The company has a market capitalization of $65.95 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 1.75 and a beta of 1.29.
Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, July 28th. The railroad operator reported $3.28 EPS for the quarter, topping the consensus estimate of $2.94 by $0.34. Norfolk Southern had a net margin of 25.98% and a return on equity of 19.12%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. As a group, equities analysts anticipate that Norfolk Southern Co. will post 11.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 20th. Shareholders of record on Monday, August 9th were given a $1.09 dividend. The ex-dividend date was Friday, August 6th. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.99. This represents a $4.36 annualized dividend and a yield of 1.63%. Norfolk Southern’s payout ratio is 47.14%.
Norfolk Southern Profile
Norfolk Southern Corp. is a transportation company, which owns a freight railroad. It engages in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange with rail carriers, to and from the rest of the United States.
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