Carroll Investors Inc Purchases Shares of 2,075 Norfolk Southern Co. (NYSE:NSC)

Carroll Investors Inc acquired a new stake in Norfolk Southern Co. (NYSE:NSC) during the first quarter, Holdings Channel reports. The institutional investor acquired 2,075 shares of the railroad operator’s stock, valued at approximately $529,000. Norfolk Southern accounts for 0.4% of Carroll Investors Inc’s portfolio, making the stock its 19th largest position.

A number of other hedge funds have also modified their holdings of NSC. Norges Bank acquired a new position in shares of Norfolk Southern in the fourth quarter valued at about $556,797,000. Vanguard Group Inc. grew its holdings in Norfolk Southern by 5.9% during the first quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock worth $5,001,490,000 after acquiring an additional 1,088,072 shares during the period. Stifel Financial Corp grew its holdings in Norfolk Southern by 600.3% during the fourth quarter. Stifel Financial Corp now owns 1,021,312 shares of the railroad operator’s stock worth $241,421,000 after acquiring an additional 875,473 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in Norfolk Southern by 1,956.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 451,226 shares of the railroad operator’s stock worth $106,661,000 after acquiring an additional 429,288 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in Norfolk Southern by 23,585.8% during the fourth quarter. International Assets Investment Management LLC now owns 351,261 shares of the railroad operator’s stock worth $83,031,000 after acquiring an additional 349,778 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NYSE NSC traded up $24.32 during midday trading 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 company has a market capitalization of $55.85 billion, a PE ratio of 39.81, a P/E/G ratio of 2.44 and a beta of 1.32. The stock has a 50 day simple moving average of $222.63 and a 200-day simple moving average of $237.61. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year 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.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share 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 the consensus estimate of $3.04 billion. During the same quarter last year, the business posted $2.95 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Norfolk Southern Co. will post 11.6 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.18%. Norfolk Southern’s dividend payout ratio is presently 86.96%.

Analyst Upgrades and Downgrades

Several research firms recently commented on NSC. Stifel Nicolaus raised their target price on Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a report on Friday. Susquehanna raised their target price on Norfolk Southern from $245.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday. Barclays dropped their target price on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. Royal Bank of Canada dropped their target price on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Loop Capital increased their price target on Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $264.65.

Insider Activity at Norfolk Southern

In other news, Director Sameh Fahmy acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average price of $219.25 per share, with a total value of $438,500.00. Following the completion of the acquisition, the director now owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Sameh Fahmy acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average price of $219.25 per share, with a total value of $438,500.00. Following the completion of the acquisition, the director now owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Claude Mongeau acquired 5,650 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average cost of $221.00 per share, with a total value of $1,248,650.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $4,420,000. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.

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.