PFG Investments LLC Purchases 717 Shares of Norfolk Southern Co. (NYSE:NSC)

PFG Investments LLC lifted its position in shares of Norfolk Southern Co. (NYSE:NSC) by 57.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,971 shares of the railroad operator’s stock after purchasing an additional 717 shares during the period. PFG Investments LLC’s holdings in Norfolk Southern were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in NSC. Outlook Wealth Advisors LLC increased its position in Norfolk Southern by 12.9% in the 1st quarter. Outlook Wealth Advisors LLC now owns 1,224 shares of the railroad operator’s stock valued at $312,000 after acquiring an additional 140 shares during the period. Raymond James & Associates increased its holdings in Norfolk Southern by 0.9% in the first quarter. Raymond James & Associates now owns 320,231 shares of the railroad operator’s stock valued at $81,617,000 after purchasing an additional 2,881 shares during the period. Ashton Thomas Private Wealth LLC raised its position in Norfolk Southern by 14.4% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 2,561 shares of the railroad operator’s stock worth $653,000 after purchasing an additional 323 shares during the last quarter. Horizon Bancorp Inc. IN lifted its holdings in Norfolk Southern by 14.3% during the 1st quarter. Horizon Bancorp Inc. IN now owns 871 shares of the railroad operator’s stock worth $222,000 after buying an additional 109 shares during the period. Finally, American National Bank & Trust Co. VA bought a new stake in shares of Norfolk Southern in the 1st quarter valued at about $284,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.6 %

NYSE:NSC traded up $1.40 during trading hours on Monday, hitting $241.34. 1,385,043 shares of the company traded hands, compared to its average volume of 1,292,828. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37. The company has a market cap of $54.52 billion, a PE ratio of 38.86, a PEG ratio of 3.31 and a beta of 1.30. The firm’s 50-day simple moving average is $251.61 and its 200-day simple moving average is $233.21. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the business earned $3.32 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 3rd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Thursday, May 2nd. Norfolk Southern’s payout ratio is 86.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NSC shares. Sanford C. Bernstein raised Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price objective on the stock in a research note on Monday, January 22nd. Susquehanna dropped their price target on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. JPMorgan Chase & Co. raised their price objective on shares of Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $270.00 target price on shares of Norfolk Southern in a research report on Wednesday, April 10th. Finally, UBS Group reduced their price target on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $262.32.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.