Roberts Glore & Co. Inc. IL Invests $3.52 Million in Norfolk Southern Corporation $NSC

Key Points

• Roberts Glore & Co. Inc. IL purchased 11,199 Norfolk Southern shares worth approximately $3.52 million, making the railroad operator 0.9% of its portfolio.
• Institutional ownership is substantial at 75.1%, with BlackRock, Norges Bank, Pentwater Capital, Legal & General, and Bank of New York Mellon among other major investors adding positions.
• Norfolk Southern exceeded quarterly earnings and revenue estimates, while paying a $1.35 quarterly dividend. Analysts’ average rating remains Hold, with an average price target of $348 versus the reported $351.73 share price.

Roberts Glore & Co. Inc. IL 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 disclosure with the Securities & Exchange Commission. The fund purchased 11,199 shares of the railroad operator's stock, valued at approximately $3,523,000. Norfolk Southern makes up about 0.9% of Roberts Glore & Co. Inc. IL's portfolio, making the stock its 29th largest position.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Norfolk Southern in the second quarter worth about $5,033,549,000. Norges Bank purchased a new position in Norfolk Southern during the 4th quarter valued at about $1,084,701,000. Pentwater Capital Management LP purchased a new position in Norfolk Southern during the 3rd quarter valued at about $826,128,000. Legal & General Group Plc bought a new stake in shares of Norfolk Southern in the 2nd quarter valued at about $503,093,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Norfolk Southern in the 2nd quarter valued at about $364,414,000. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Price Performance

Shares of NSC opened at $351.73 on Wednesday. The company has a 50 day moving average of $329.90 and a two-hundred day moving average of $314.17. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60. The company has a market cap of $79.00 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 6.25 and a beta of 1.27.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate 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%.The business's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.29 EPS. As a group, analysts predict that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Evercore set a $358.00 price objective on shares of Norfolk Southern in a research note on Thursday, July 23rd. Robert W. Baird boosted their price objective on shares of Norfolk Southern from $360.00 to $377.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. JPMorgan Chase & Co. upped their target price on Norfolk Southern from $316.00 to $338.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. UBS Group reaffirmed a "neutral" rating and set a $363.00 target price on shares of Norfolk Southern in a research report on Friday, July 24th. Finally, TD Cowen lifted their price target on Norfolk Southern from $337.00 to $376.00 and gave the company a "buy" rating in a report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $348.00.

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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