Norfolk Southern Corporation (NYSE:NSC) Shares Bought by IFP Advisors Inc

IFP Advisors Inc raised its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 24.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,037 shares of the railroad operator's stock after acquiring an additional 2,936 shares during the quarter. IFP Advisors Inc's holdings in Norfolk Southern were worth $3,561,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new stake in Norfolk Southern in the fourth quarter valued at $28,000. Putney Financial Group LLC acquired a new stake in Norfolk Southern in the fourth quarter valued at $30,000. Greenline Partners LLC acquired a new stake in Norfolk Southern in the fourth quarter valued at $31,000. HWG Holdings LP acquired a new stake in Norfolk Southern in the first quarter valued at $35,000. Finally, Physician Wealth Advisors Inc. raised its holdings in shares of Norfolk Southern by 129.2% in the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock worth $35,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America increased their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday. Citigroup lowered Norfolk Southern from a "buy" rating to a "neutral" rating and increased their price objective for the company from $259.00 to $288.00 in a research note on Wednesday, July 9th. Susquehanna reaffirmed a "neutral" rating and set a $260.00 price objective (up previously from $250.00) on shares of Norfolk Southern in a research note on Tuesday, June 24th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $278.00 price objective on shares of Norfolk Southern in a research note on Monday, June 2nd. Finally, BMO Capital Markets restated a "market perform" rating and set a $255.00 price objective on shares of Norfolk Southern in a report on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $274.55.

Norfolk Southern Stock Up 2.7%

NSC stock opened at $277.00 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 1.15. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $281.35. The firm's 50-day simple moving average is $252.39 and its 200 day simple moving average is $241.81. The stock has a market cap of $62.45 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 2.27 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the business earned $2.49 EPS. The firm's revenue was down .4% on a year-over-year basis. As a group, sell-side analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.95%. The ex-dividend date was Friday, May 2nd. Norfolk Southern's payout ratio is currently 36.89%.

Norfolk Southern Company Profile

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.

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