11,400 Shares in Norfolk Southern Corporation $NSC Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in Norfolk Southern Corporation (NYSE:NSC) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,400 shares of the railroad operator’s stock, valued at approximately $3,272,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. First American Bank acquired a new stake in Norfolk Southern in the first quarter valued at $228,000. Fiduciary Alliance LLC lifted its stake in Norfolk Southern by 85.8% in the 1st quarter. Fiduciary Alliance LLC now owns 2,168 shares of the railroad operator’s stock valued at $645,000 after purchasing an additional 1,001 shares during the last quarter. Ritholtz Wealth Management lifted its stake in Norfolk Southern by 0.9% in the 1st quarter. Ritholtz Wealth Management now owns 7,633 shares of the railroad operator’s stock valued at $2,191,000 after purchasing an additional 70 shares during the last quarter. RFG Advisory LLC grew its holdings in Norfolk Southern by 3.9% during the first quarter. RFG Advisory LLC now owns 1,228 shares of the railroad operator’s stock worth $353,000 after purchasing an additional 46 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its position in Norfolk Southern by 7.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 4,150 shares of the railroad operator’s stock worth $1,191,000 after buying an additional 289 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Trading Up 0.3%

Shares of NYSE:NSC opened at $312.88 on Friday. The business’s 50 day simple moving average is $310.79 and its 200 day simple moving average is $301.10. Norfolk Southern Corporation has a 1 year low of $254.18 and a 1 year high of $326.00. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The company has a market capitalization of $70.27 billion, a P/E ratio of 26.36, a P/E/G ratio of 5.77 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last released its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.69 EPS. On average, research analysts anticipate that Norfolk Southern Corporation will post 12.12 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern’s dividend payout ratio is currently 45.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Robert W. Baird raised their price objective on shares of Norfolk Southern from $315.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Zacks Research raised Norfolk Southern from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Evercore set a $325.00 price target on Norfolk Southern in a report on Friday, April 24th. Finally, Weiss Ratings lowered Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. 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, the company 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.