L & S Advisors Inc boosted its position in Norfolk Southern Corp. (NYSE:NSC) by 152.1% in the 2nd quarter, Holdings Channel reports. The firm owned 22,771 shares of the railroad operator’s stock after buying an additional 13,740 shares during the quarter. L & S Advisors Inc’s holdings in Norfolk Southern were worth $4,539,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rational Advisors LLC raised its position in shares of Norfolk Southern by 755.2% in the second quarter. Rational Advisors LLC now owns 821 shares of the railroad operator’s stock worth $164,000 after acquiring an additional 725 shares during the period. Hayden Royal LLC increased its stake in shares of Norfolk Southern by 16.3% during the second quarter. Hayden Royal LLC now owns 1,297 shares of the railroad operator’s stock worth $261,000 after purchasing an additional 182 shares in the last quarter. Coastal Investment Advisors Inc. increased its stake in shares of Norfolk Southern by 139.6% during the second quarter. Coastal Investment Advisors Inc. now owns 841 shares of the railroad operator’s stock worth $166,000 after purchasing an additional 490 shares in the last quarter. FTB Advisors Inc. increased its stake in shares of Norfolk Southern by 12.4% during the second quarter. FTB Advisors Inc. now owns 6,164 shares of the railroad operator’s stock worth $1,227,000 after purchasing an additional 679 shares in the last quarter. Finally, ARP Americas LP purchased a new stake in shares of Norfolk Southern during the first quarter worth about $299,000. 72.28% of the stock is owned by institutional investors and hedge funds.
In other Norfolk Southern news, Director Jennifer F. Scanlon acquired 525 shares of the stock in a transaction on Monday, July 29th. The shares were bought at an average cost of $191.52 per share, with a total value of $100,548.00. Following the transaction, the director now owns 525 shares of the company’s stock, valued at approximately $100,548. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.
NYSE:NSC opened at $180.93 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.78 and a quick ratio of 0.68. The firm has a market capitalization of $47.65 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 1.49 and a beta of 1.34. The company’s 50-day moving average is $177.70 and its two-hundred day moving average is $190.16. Norfolk Southern Corp. has a 1-year low of $138.65 and a 1-year high of $211.46.
Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, July 24th. The railroad operator reported $2.70 EPS for the quarter, missing the Zacks’ 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 company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the business earned $2.50 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts anticipate that Norfolk Southern Corp. will post 10.62 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 5th were given a dividend of $0.94 per share. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.86. This represents a $3.76 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is presently 39.54%.
A number of analysts have recently commented on the stock. Bank of America boosted their target price on shares of Norfolk Southern from $212.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. Deutsche Bank dropped their price objective on shares of Norfolk Southern from $198.00 to $196.00 and set a “hold” rating for the company in a research note on Wednesday, June 12th. ValuEngine cut shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. TD Securities decreased their target price on shares of Norfolk Southern from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, Cascend Securities lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $206.39.
Norfolk Southern Profile
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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