Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies Invests $1.15 Million in Norfolk Southern Corporation $NSC

Key Points

• Alliance Wealth Strategies LLC d/b/a Brown Edwards Wealth Strategies acquired a new position of 3,968 shares (~$1.15 million) in Norfolk Southern during Q4, representing 1.1% of its portfolio and its 24th largest holding.
• Several other institutions (including Aurora Private Wealth, STRS Ohio and Danske Bank) also added to or opened positions, leaving institutional and hedge funds with about 75.1% ownership of the stock.
• Analysts have a consensus Hold rating with an average target of $320.67 (range ~$310–$360); shares trade near $316, Norfolk Southern recently beat EPS estimates, and it announced a $1.35 quarterly dividend (1.7% yield, ex-dividend May 8).

Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies acquired a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,968 shares of the railroad operator's stock, valued at approximately $1,146,000. Norfolk Southern comprises 1.1% of Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies' portfolio, making the stock its 24th biggest holding.

Several other large investors have also recently made changes to their positions in the stock. Aurora Private Wealth Inc. purchased a new stake in Norfolk Southern during the 4th quarter worth approximately $1,117,000. Benjamin Edwards Inc. increased its stake in Norfolk Southern by 4.6% during the 4th quarter. Benjamin Edwards Inc. now owns 5,992 shares of the railroad operator's stock worth $1,730,000 after buying an additional 261 shares during the period. Strs Ohio increased its stake in Norfolk Southern by 21.5% during the 4th quarter. Strs Ohio now owns 64,676 shares of the railroad operator's stock worth $18,673,000 after buying an additional 11,439 shares during the period. Verus Financial Partners Inc. increased its stake in Norfolk Southern by 13.7% during the 4th quarter. Verus Financial Partners Inc. now owns 2,270 shares of the railroad operator's stock worth $654,000 after buying an additional 273 shares during the period. Finally, Danske Bank A S increased its stake in Norfolk Southern by 14.7% during the 4th quarter. Danske Bank A S now owns 108,723 shares of the railroad operator's stock worth $31,391,000 after buying an additional 13,937 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NSC has been the topic of several recent research reports. Evercore set a $325.00 target price on shares of Norfolk Southern in a research note on Friday, April 24th. Robert W. Baird increased their price objective on shares of Norfolk Southern from $315.00 to $330.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Royal Bank Of Canada increased their price objective on shares of Norfolk Southern from $310.00 to $360.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Jefferies Financial Group dropped their target price on shares of Norfolk Southern from $350.00 to $310.00 and set a "hold" rating on the stock in a research report on Monday, April 6th. Finally, Argus raised shares of Norfolk Southern to a "hold" rating in a research report on Wednesday, February 25th. Six equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $320.67.

Norfolk Southern Stock Up 0.1%

Shares of NYSE:NSC opened at $316.26 on Friday. The stock has a market cap of $71.03 billion, a P/E ratio of 26.64, a P/E/G ratio of 5.84 and a beta of 1.30. The firm has a fifty day moving average price of $299.64 and a 200 day moving average price of $294.38. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. Norfolk Southern Corporation has a 1-year low of $218.05 and a 1-year high of $323.37.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly 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 firm had revenue of $3 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.69 EPS. Sell-side analysts predict that Norfolk Southern Corporation will post 12.11 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, May 8th. Norfolk Southern's dividend payout ratio (DPR) is 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.

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