Navigation Group LLC Purchases Shares of 2,458 Norfolk Southern Corporation $NSC

Navigation Group LLC acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,458 shares of the railroad operator’s stock, valued at approximately $705,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern in the 3rd quarter worth about $25,000. BNP Paribas purchased a new stake in shares of Norfolk Southern during the 2nd quarter worth about $26,000. GoalVest Advisory LLC grew its holdings in shares of Norfolk Southern by 933.3% during the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 84 shares during the period. Meeder Asset Management Inc. increased its position in Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 67 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its position in Norfolk Southern by 669.2% during the 3rd quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock worth $30,000 after purchasing an additional 87 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Up 0.3%

Shares of NYSE:NSC opened at $327.89 on Thursday. The company has a market capitalization of $73.64 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 5.97 and a beta of 1.27. The company has a 50 day moving average of $313.74 and a two-hundred day moving average of $303.83. Norfolk Southern Corporation has a 52-week low of $257.49 and a 52-week high of $329.38. 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 posted its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.69 earnings per share. As a group, analysts forecast that Norfolk Southern Corporation will post 12.24 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a $1.35 dividend. The ex-dividend date was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. Norfolk Southern’s payout ratio is currently 45.49%.

Wall Street Analyst Weigh In

NSC has been the topic of a number of recent research reports. Stephens raised shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Rothschild & Co Redburn increased their price objective on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. BMO Capital Markets raised their target price on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a research note on Monday, April 27th. Evercore set a $325.00 target price on shares of Norfolk Southern in a report on Friday, April 24th. Finally, Barclays upped their price target on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Seven analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the stock. Based on data from MarketBeat.com, Norfolk Southern has an average rating of “Hold” and an average price target of $328.00.

Norfolk Southern Profile

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.