Russell Investments Group Ltd. Has $45.26 Million Position in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Russell Investments Group Ltd. increased its holdings in Norfolk Southern Corporation by 12.5%, acquiring an additional 21,198 shares, bringing its total to 191,216 shares valued at approximately $45.26 million.
• Norfolk Southern recently reported earnings of $3.29 per share, exceeding estimates, along with a revenue of $3.11 billion for the quarter.
• The company announced a quarterly dividend of $1.35 per share, reflecting an annualized dividend yield of 1.9% and a dividend payout ratio of 36.49%.

Russell Investments Group Ltd. raised its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 12.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,216 shares of the railroad operator's stock after acquiring an additional 21,198 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of Norfolk Southern worth $45,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of NSC. Fourth Dimension Wealth LLC bought a new position in shares of Norfolk Southern during the 4th quarter valued at about $28,000. Putney Financial Group LLC bought a new position in shares of Norfolk Southern during the 4th quarter valued at about $30,000. Greenline Partners LLC bought a new position in shares of Norfolk Southern during the 4th quarter valued at about $31,000. HWG Holdings LP bought a new position in shares of Norfolk Southern during the 1st quarter valued at about $35,000. Finally, Physician Wealth Advisors Inc. boosted its position in shares of Norfolk Southern by 129.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after purchasing an additional 84 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on NSC. Baird R W upgraded shares of Norfolk Southern to a "hold" rating in a research report on Tuesday, July 1st. Jefferies Financial Group restated a "hold" rating and set a $300.00 price objective on shares of Norfolk Southern in a research report on Friday, July 25th. Robert W. Baird upped their price objective on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Citigroup upped their price objective on shares of Norfolk Southern from $288.00 to $305.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $288.00 price objective (up from $282.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $285.15.

Norfolk Southern Stock Down 0.6%

Shares of NSC traded down $1.64 during trading hours on Friday, reaching $280.86. The company's stock had a trading volume of 1,939,854 shares, compared to its average volume of 3,210,820. The firm has a market cap of $63.09 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 2.49 and a beta of 1.31. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $288.11. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The company has a 50 day moving average of $266.84 and a two-hundred day moving average of $246.75.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, beating analysts' consensus estimates of $3.24 by $0.05. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. As a group, research analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st will be issued a $1.35 dividend. The ex-dividend date is Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern's dividend payout ratio is currently 36.49%.

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.