QRG Capital Management Inc. Increases Stock Position in Norfolk Southern Corporation $NSC

QRG Capital Management Inc. grew its stake in Norfolk Southern Corporation (NYSE:NSC) by 15.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,462 shares of the railroad operator’s stock after buying an additional 2,031 shares during the period. QRG Capital Management Inc.’s holdings in Norfolk Southern were worth $4,438,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. JPL Wealth Management LLC bought a new stake in shares of Norfolk Southern during the 3rd quarter worth $25,000. BNP Paribas bought a new position in Norfolk Southern in the second quarter valued at $26,000. GoalVest Advisory LLC increased its stake in Norfolk Southern by 933.3% in the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after acquiring an additional 84 shares during the last quarter. Meeder Asset Management Inc. raised its position in Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after purchasing an additional 67 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its position in Norfolk Southern by 669.2% during the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE NSC opened at $322.85 on Monday. The company has a 50-day simple moving average of $312.52 and a two-hundred day simple moving average of $302.01. Norfolk Southern Corporation has a 12-month low of $257.49 and a 12-month high of $326.00. The firm has a market cap of $72.51 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 5.96 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the business earned $2.69 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts forecast that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s payout ratio is 45.49%.

Analysts Set New Price Targets

NSC has been the subject of several research analyst reports. Wolfe Research lifted their price target on Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. Citigroup reissued a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. Jefferies Financial Group dropped their target price on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research report on Monday, April 6th. TD Cowen upped their target price on Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, Susquehanna increased their price target on shares of Norfolk Southern from $330.00 to $337.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. Six equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $320.35.

About Norfolk Southern

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.