Citizens Financial Group Inc. RI Makes New $1.63 Million Investment in Norfolk Southern Corporation $NSC

Citizens Financial Group Inc. RI purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the second quarter, HoldingsChannel reports. The fund purchased 5,180 shares of the railroad operator’s stock, valued at approximately $1,629,000.

Other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System bought a new stake in Norfolk Southern in the first 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 valued at $12,533,000 after acquiring an additional 3,887 shares during the period. SCS Capital Management LLC purchased a new stake in shares of Norfolk Southern in the second quarter valued at $13,837,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Norfolk Southern in the 2nd quarter worth about $1,376,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in shares of 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 worth $14,615,000 after purchasing an additional 16,720 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 0.5%

NSC stock opened at $339.44 on Wednesday. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The firm’s 50-day moving average is $326.03 and its 200 day moving average is $312.27. The company has a market capitalization of $76.24 billion, a PE ratio of 28.96, a P/E/G ratio of 5.92 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.20. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.29 EPS. On average, research analysts anticipate that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. Norfolk Southern’s dividend payout ratio (DPR) is 46.08%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Evercore set a $358.00 price target on shares of Norfolk Southern in a report on Thursday, July 23rd. Rothschild & Co Redburn raised their price objective on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada boosted their target price on Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. Wells Fargo & Company upped their target price on Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Finally, Barclays increased their price target on Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, Norfolk Southern presently has an average rating of “Hold” and a consensus price target of $348.00.

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.