Calamos Advisors LLC Buys 31,837 Shares of Norfolk Southern Corporation $NSC

Calamos Advisors LLC increased its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 15.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 244,559 shares of the railroad operator’s stock after purchasing an additional 31,837 shares during the quarter. Calamos Advisors LLC’s holdings in Norfolk Southern were worth $70,188,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Louisiana State Employees Retirement System purchased a new position in shares of Norfolk Southern during the first quarter worth about $3,272,000. O Shaughnessy Asset Management LLC raised its position in Norfolk Southern by 9.8% in the 4th 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 period. Brevan Howard Capital Management LP increased its holdings in shares of Norfolk Southern by 126.6% in the third quarter. Brevan Howard Capital Management LP now owns 15,413 shares of the railroad operator’s stock worth $4,630,000 after buying an additional 8,612 shares during the period. Farallon Capital Management LLC purchased a new position in Norfolk Southern in the 3rd quarter worth approximately $184,752,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in Norfolk Southern by 49.3% during the 4th 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. Institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Citigroup upped their price target on Norfolk Southern from $335.00 to $351.00 and gave the company a “neutral” rating in a research report on Thursday. Wells Fargo & Company lifted their price target on shares of Norfolk Southern from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Susquehanna boosted their target price on Norfolk Southern from $330.00 to $337.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. Sanford C. Bernstein cut their price target on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. reduced their price objective on Norfolk Southern from $331.00 to $316.00 and set a “neutral” rating for the company in a report on Friday. Seven research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $326.72.

Norfolk Southern Price Performance

NSC stock opened at $327.85 on Tuesday. The company has a market capitalization of $73.63 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 6.02 and a beta of 1.27. Norfolk Southern Corporation has a one year low of $257.49 and a one year high of $329.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The company’s fifty day moving average price is $313.27 and its 200-day moving average price is $303.34.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the company earned $2.69 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts anticipate that Norfolk Southern Corporation will post 12.17 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given 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 dividend payout ratio (DPR) is currently 45.49%.

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.