Ancora Advisors LLC Takes Position in Norfolk Southern Corporation $NSC

Key Points

• Ancora Advisors acquired 11,174 Norfolk Southern shares worth approximately $3.5 million, while institutional investors collectively own 75.1% of the railroad operator.
• Analysts raised several price targets, but overall sentiment remains cautious: seven analysts rate NSC a Buy and 15 rate it Hold, with a consensus target of $348.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in EPS and $3.46 billion in revenue, up 12.5% year over year. The company also maintains a quarterly dividend of $1.35 per share, equivalent to a 1.5% yield.

Ancora Advisors LLC acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,174 shares of the railroad operator's stock, valued at approximately $3,515,000.

Several other large investors have also added to or reduced their stakes in NSC. Exencial Wealth Advisors LLC raised its position in Norfolk Southern by 1.1% during the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator's stock valued at $929,000 after acquiring an additional 35 shares in the last quarter. Sovereign Financial Group Inc. increased its holdings in Norfolk Southern by 3.3% in the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator's stock valued at $318,000 after buying an additional 35 shares in the last quarter. Bar Harbor Wealth Management increased its holdings in Norfolk Southern by 0.6% in the first quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator's stock valued at $1,805,000 after buying an additional 36 shares in the last quarter. Apollon Financial LLC raised its position in shares of Norfolk Southern by 4.3% in the first quarter. Apollon Financial LLC now owns 881 shares of the railroad operator's stock worth $253,000 after acquiring an additional 36 shares during the period. Finally, Moss Adams Wealth Advisors LLC boosted its position in Norfolk Southern by 4.6% during the first quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator's stock worth $237,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NSC. Barclays boosted their price objective on Norfolk Southern from $360.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Royal Bank Of Canada raised their price objective on Norfolk Southern from $320.00 to $360.00 and gave the company a "sector perform" rating in a report on Friday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Norfolk Southern from $316.00 to $338.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Citigroup upped their price objective on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Finally, Susquehanna upped their price target on Norfolk Southern from $337.00 to $360.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $348.00.

Norfolk Southern Stock Up 0.4%

Shares of NYSE NSC opened at $352.60 on Thursday. The business has a 50-day moving average of $330.95 and a two-hundred day moving average of $314.49. The company has a market capitalization of $79.20 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 6.18 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 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 - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.29 EPS. On average, analysts forecast that Norfolk Southern Corporation will post 12.74 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.5%. Norfolk Southern's dividend payout ratio (DPR) is presently 46.08%.

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.

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