Janney Montgomery Scott LLC Purchases 3,603 Shares of Norfolk Southern Corporation $NSC

Janney Montgomery Scott LLC boosted its position in Norfolk Southern Corporation (NYSE:NSC) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,877 shares of the railroad operator’s stock after purchasing an additional 3,603 shares during the period. Janney Montgomery Scott LLC’s holdings in Norfolk Southern were worth $31,248,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Gilbert & Cook Inc. increased its stake in shares of Norfolk Southern by 1.4% in the fourth quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator’s stock valued at $726,000 after buying an additional 35 shares during the period. Moss Adams Wealth Advisors LLC boosted its position in Norfolk Southern by 4.6% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock worth $228,000 after buying an additional 35 shares during the period. Confluence Wealth Services Inc. boosted its position in Norfolk Southern by 1.1% during the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock worth $892,000 after buying an additional 35 shares during the period. Exencial Wealth Advisors LLC grew its holdings in Norfolk Southern by 1.1% during the 4th quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock worth $929,000 after acquiring an additional 35 shares during the last quarter. Finally, Sovereign Financial Group Inc. grew its holdings in Norfolk Southern by 3.3% during the 1st quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock worth $318,000 after acquiring an additional 35 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Trading Up 1.1%

NYSE:NSC opened at $316.18 on Tuesday. Norfolk Southern Corporation has a 52 week low of $255.03 and a 52 week high of $326.00. 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 firm’s fifty day moving average is $311.07 and its 200-day moving average is $301.35. The firm has a market cap of $71.01 billion, a P/E ratio of 26.64, a P/E/G ratio of 5.77 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. Norfolk Southern’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $2.69 earnings per share. Equities analysts expect that Norfolk Southern Corporation will post 12.12 earnings per share 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 given a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is 45.49%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Zacks Research raised shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Citigroup reissued a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Barclays increased their price objective on Norfolk Southern from $320.00 to $360.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Royal Bank Of Canada lowered their target price on Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating for the company in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Six research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $320.35.

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.