Teacher Retirement System of Texas Purchases 68,709 Shares of Norfolk Southern Corporation (NYSE:NSC)

Teacher Retirement System of Texas lifted its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 185.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 105,805 shares of the railroad operator's stock after acquiring an additional 68,709 shares during the quarter. Teacher Retirement System of Texas' holdings in Norfolk Southern were worth $25,060,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vision Financial Markets LLC purchased a new stake in Norfolk Southern during the fourth quarter valued at about $28,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at approximately $28,000. Atlantic Private Wealth LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at approximately $29,000. Putney Financial Group LLC bought a new position in Norfolk Southern in the 4th quarter worth approximately $30,000. Finally, Greenline Partners LLC purchased a new position in Norfolk Southern in the 4th quarter valued at approximately $31,000. Institutional investors own 75.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Susquehanna restated a "neutral" rating and set a $260.00 target price (up previously from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. UBS Group lifted their price target on Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Royal Bank Of Canada dropped their price objective on Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Bank of America raised their target price on Norfolk Southern from $280.00 to $290.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Citigroup decreased their price target on Norfolk Southern from $298.00 to $259.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Norfolk Southern currently has an average rating of "Moderate Buy" and an average price target of $267.48.

Norfolk Southern Stock Up 0.2%

Shares of NYSE:NSC opened at $262.50 on Friday. The firm has a market capitalization of $59.18 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.06 and a beta of 1.31. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.70 and a current ratio of 0.78. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $277.60. The firm has a fifty day moving average of $243.25 and a 200 day moving average of $239.60.

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

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Friday, May 2nd. Norfolk Southern's payout ratio is currently 36.89%.

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.

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