QRG Capital Management Inc. Purchases 2,031 Shares of Norfolk Southern Corporation $NSC

QRG Capital Management Inc. grew its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 15.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 15,462 shares of the railroad operator’s stock after buying an additional 2,031 shares during the quarter. QRG Capital Management Inc.’s holdings in Norfolk Southern were worth $4,438,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new stake in shares of Norfolk Southern in the 1st quarter worth $3,272,000. O Shaughnessy Asset Management LLC raised its stake in shares of Norfolk Southern by 9.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after purchasing an additional 3,887 shares during the last quarter. Farallon Capital Management LLC bought a new position in shares of Norfolk Southern during the third quarter valued at $184,752,000. Angelo Gordon & CO. L.P. bought a new position in shares of Norfolk Southern during the third quarter valued at $1,464,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of Norfolk Southern by 49.3% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 50,620 shares of the railroad operator’s stock valued at $14,615,000 after buying an additional 16,720 shares during the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Shares of NSC opened at $322.85 on Monday. The firm has a market capitalization of $72.51 billion, a P/E ratio of 27.20, a PEG ratio of 5.96 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. Norfolk Southern Corporation has a one year low of $257.49 and a one year high of $326.00. The business has a fifty day moving average of $312.52 and a 200 day moving average of $302.01.

Norfolk Southern (NYSE:NSC) last posted 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 company had revenue of $3 billion for 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%.Norfolk Southern’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.69 earnings per share. As a group, sell-side analysts anticipate that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have weighed in on NSC. Rothschild & Co Redburn boosted their target price on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. TD Cowen raised their price target on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a report on Monday, April 27th. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. UBS Group set a $327.00 price objective on shares of Norfolk Southern in a report on Thursday, May 7th. Finally, Citigroup restated a “neutral” rating on shares of Norfolk Southern in a research report on Friday, April 24th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Norfolk Southern presently has a consensus rating of “Hold” and an average 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.