300 Shares in Norfolk Southern Co. (NYSE:NSC) Bought by LRI Investments LLC

LRI Investments LLC purchased a new stake in shares of Norfolk Southern Co. (NYSE:NSC) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 300 shares of the railroad operator’s stock, valued at approximately $76,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC purchased a new position in shares of Norfolk Southern during the 1st quarter valued at about $27,000. Rise Advisors LLC bought a new stake in shares of Norfolk Southern in the 1st quarter worth approximately $34,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $32,000. Financial Connections Group Inc. purchased a new stake in shares of Norfolk Southern in the 4th quarter valued at $34,000. Finally, Rational Advisors LLC bought a new position in shares of Norfolk Southern during the 1st quarter valued at $40,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 10.9 %

Norfolk Southern stock traded up $24.32 during trading hours on Friday, hitting $247.22. The stock had a trading volume of 2,993,456 shares, compared to its average volume of 1,060,314. The stock’s 50-day moving average price is $222.63 and its 200-day moving average price is $237.55. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $55.85 billion, a P/E ratio of 39.81, a price-to-earnings-growth ratio of 2.44 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.77% and a net margin of 14.85%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the firm posted $2.95 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Norfolk Southern Co. will post 11.6 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, August 2nd. Norfolk Southern’s payout ratio is presently 86.96%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NSC shares. Loop Capital upped their price target on shares of Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Jefferies Financial Group initiated coverage on Norfolk Southern in a report on Monday, April 8th. They set a “buy” rating and a $300.00 target price for the company. Wells Fargo & Company lifted their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday. Stifel Nicolaus increased their price objective on Norfolk Southern from $239.00 to $241.00 and gave the company a “hold” rating in a research note on Friday. Finally, Royal Bank of Canada decreased their target price on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $264.65.

Insider Transactions at Norfolk Southern

In related news, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CMO Claude E. Elkins sold 8,329 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sameh Fahmy bought 2,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the transaction, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

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.