Advisors Capital Management LLC Makes New Investment in Norfolk Southern Corporation $NSC

Advisors Capital Management LLC acquired a new stake in Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,195 shares of the railroad operator’s stock, valued at approximately $691,000.

Several other institutional investors and hedge funds have also modified their holdings of NSC. Cannon Wealth Management Services LLC purchased a new position in shares of Norfolk Southern during the 2nd quarter worth about $277,000. MJP Associates Inc. ADV purchased a new stake in Norfolk Southern in the second quarter valued at approximately $326,000. PCM Encore LLC acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at $209,000. Vise Technologies Inc. acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at $3,002,000. Finally, XY Capital Ltd purchased a new stake in shares of Norfolk Southern during the 2nd quarter valued at $2,517,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Several equities analysts have recently weighed in on NSC shares. Robert W. Baird lifted their price objective on Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Barclays lifted their price target on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Wells Fargo & Company increased their price objective on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern has an average rating of “Hold” and an average price target of $348.00.

NSC stock opened at $350.77 on Friday. The firm has a market cap of $78.79 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 6.14 and a beta of 1.27. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60. The firm has a fifty day moving average price of $328.23 and a two-hundred day moving average price of $313.31. 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 posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 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 analyst estimates of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.29 earnings per share. Research analysts predict that Norfolk Southern Corporation will post 12.66 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday...