7,703 Shares in Norfolk Southern Corporation $NSC Purchased by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies purchased 7,703 Norfolk Southern shares in the second quarter, valued at approximately $2.4 million. Institutional investors collectively own 75.1% of the railroad operator.
• Norfolk Southern reported quarterly EPS of $3.52, exceeding estimates of $3.32, while revenue rose 12.5% year over year to $3.46 billion.
• Analysts maintain a consensus “Hold” rating with a $348 price target. The company also pays a quarterly dividend of $1.35 per share, yielding about 1.5% annually.

Jones Financial Companies Lllp purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,703 shares of the railroad operator's stock, valued at approximately $2,423,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock valued at $400,000 after purchasing an additional 79 shares in the last quarter. Intech Investment Management LLC lifted its position in Norfolk Southern by 40.4% in the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock worth $1,527,000 after buying an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Norfolk Southern during the second quarter worth $327,000. Schnieders Capital Management LLC. raised its stake in shares of Norfolk Southern by 64.1% in the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator's stock valued at $1,094,000 after acquiring an additional 1,670 shares during the period. Finally, Jump Financial LLC lifted its holdings in shares of Norfolk Southern by 185.1% in the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator's stock worth $1,174,000 after acquiring an additional 2,979 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. BMO Capital Markets lifted their price target on shares of Norfolk Southern from $310.00 to $355.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Stephens raised shares of Norfolk Southern to a "hold" rating in a research note on Wednesday, July 8th. Weiss Ratings raised shares of Norfolk Southern from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 24th. JPMorgan Chase & Co. upped their target price on Norfolk Southern from $316.00 to $338.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Finally, Wall Street Zen upgraded Norfolk Southern from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $348.00.

Norfolk Southern Price Performance

Shares of NSC stock opened at $352.91 on Tuesday. The company has a market capitalization of $79.27 billion, a P/E ratio of 30.11, a P/E/G ratio of 6.21 and a beta of 1.27. The company's 50-day simple moving average is $329.08 and its two-hundred day simple moving average is $313.85. Norfolk Southern Corporation has a one year low of $268.23 and a one year high of $358.60. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.32 by $0.20. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.Norfolk Southern's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.29 earnings per share. As a group, equities analysts anticipate that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.5%. Norfolk Southern's dividend payout ratio is presently 46.08%.

Norfolk Southern Company 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.

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