Royal Fund Management LLC Purchases New Shares in Norfolk Southern Corp. (NYSE:NSC)

Royal Fund Management LLC purchased a new stake in shares of Norfolk Southern Corp. (NYSE:NSC) during the 1st quarter, HoldingsChannel reports. The firm purchased 263 shares of the railroad operator’s stock, valued at approximately $38,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Savior LLC acquired a new stake in Norfolk Southern during the fourth quarter valued at $30,000. Harvest Fund Management Co. Ltd acquired a new stake in Norfolk Southern during the first quarter valued at $30,000. CFM Wealth Partners LLC acquired a new stake in Norfolk Southern during the fourth quarter valued at $33,000. Tarbox Family Office Inc. grew its position in Norfolk Southern by 54.4% during the first quarter. Tarbox Family Office Inc. now owns 230 shares of the railroad operator’s stock valued at $34,000 after buying an additional 81 shares during the period. Finally, Cedar Mountain Advisors LLC acquired a new stake in Norfolk Southern during the fourth quarter valued at $39,000. Institutional investors own 72.51% of the company’s stock.

NSC opened at $171.47 on Friday. The firm has a market capitalization of $43.69 billion, a PE ratio of 18.62, a PEG ratio of 2.74 and a beta of 1.38. Norfolk Southern Corp. has a twelve month low of $112.62 and a twelve month high of $219.88. The firm’s 50-day moving average price is $161.52 and its 200 day moving average price is $181.86. The company has a current ratio of 0.90, a quick ratio of 0.78 and a debt-to-equity ratio of 0.79.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, April 29th. The railroad operator reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.33. Norfolk Southern had a net margin of 21.89% and a return on equity of 18.12%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the firm earned $2.51 earnings per share. Norfolk Southern’s quarterly revenue was down 7.6% compared to the same quarter last year. As a group, analysts predict that Norfolk Southern Corp. will post 8.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Thursday, May 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.36%.

Several analysts recently commented on NSC shares. Benchmark started coverage on shares of Norfolk Southern in a research report on Thursday, January 30th. They issued a “hold” rating on the stock. TD Securities lifted their target price on shares of Norfolk Southern from $145.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Credit Suisse Group lifted their target price on shares of Norfolk Southern from $182.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Cowen dropped their target price on shares of Norfolk Southern from $200.00 to $197.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. Finally, Morgan Stanley lifted their target price on shares of Norfolk Southern from $116.00 to $122.00 and gave the company an “underweight” rating in a research report on Tuesday, May 12th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $189.73.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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