Jefferies Financial Group Inc. Acquires 83,747 Shares of Norfolk Southern Corporation $NSC

Jefferies Financial Group Inc. raised its holdings in Norfolk Southern Corporation (NYSE:NSC) by 154.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 138,000 shares of the railroad operator’s stock after acquiring an additional 83,747 shares during the period. Jefferies Financial Group Inc.’s holdings in Norfolk Southern were worth $41,457,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of NSC. ORG Partners LLC grew its stake in shares of Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after acquiring an additional 36 shares during the last quarter. Westside Investment Management Inc. grew its position in Norfolk Southern by 207.1% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after purchasing an additional 58 shares during the last quarter. BNP Paribas bought a new position in shares of Norfolk Southern during the 2nd quarter worth about $26,000. True Wealth Design LLC raised its position in shares of Norfolk Southern by 423.8% during the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock valued at $28,000 after buying an additional 89 shares during the last quarter. Finally, MMA Asset Management LLC bought a new stake in shares of Norfolk Southern in the third quarter valued at about $28,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NSC has been the topic of several research reports. Citigroup lowered their price target on Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Susquehanna upped their target price on Norfolk Southern from $304.00 to $305.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Zacks Research raised shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Wolfe Research increased their price objective on shares of Norfolk Southern from $361.00 to $368.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Finally, Argus raised shares of Norfolk Southern to a “hold” rating in a report on Wednesday, February 25th. Seven investment analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Norfolk Southern has a consensus rating of “Hold” and an average target price of $308.95.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $303.02 on Monday. The business has a 50 day simple moving average of $300.10 and a 200 day simple moving average of $291.64. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The company has a market capitalization of $68.05 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 5.47 and a beta of 1.31. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $319.94.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the prior year, the business posted $3.04 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, February 6th. Norfolk Southern’s payout ratio is currently 42.35%.

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.