Beverly Hills Private Wealth LLC Invests $1.24 Million in Norfolk Southern Corporation $NSC

Key Points

• Beverly Hills Private Wealth LLC acquired 3,934 Norfolk Southern shares worth approximately $1.24 million in the second quarter. Institutional investors collectively own 75.1% of the railroad operator.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in adjusted earnings per share and $3.46 billion in revenue, with revenue up 12.5% year over year.
• The company declared a quarterly dividend of $1.35 per share, or $5.40 annualized, representing a 1.6% yield. Analysts maintain a consensus “Hold” rating with a $348 average price target.

Beverly Hills Private Wealth LLC acquired a new stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,934 shares of the railroad operator's stock, valued at approximately $1,237,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NSC. Brighton Jones LLC boosted its holdings in shares of Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock valued at $400,000 after buying an additional 79 shares during the last quarter. Intech Investment Management LLC raised its position in Norfolk Southern by 40.4% during the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock worth $1,527,000 after acquiring an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Norfolk Southern in the second quarter valued at $327,000. Schnieders Capital Management LLC. grew its position in shares of Norfolk Southern by 64.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator's stock valued at $1,094,000 after acquiring an additional 1,670 shares during the period. Finally, Jump Financial LLC increased its stake in shares of Norfolk Southern by 185.1% during the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator's stock worth $1,174,000 after purchasing an additional 2,979 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Trading Up 0.1%

Shares of NYSE:NSC opened at $334.69 on Monday. Norfolk Southern Corporation has a 12-month low of $268.23 and a 12-month high of $358.60. The stock has a market cap of $75.17 billion, a PE ratio of 28.56, a P/E/G ratio of 5.92 and a beta of 1.27. The business has a 50 day moving average of $324.87 and a 200-day moving average of $311.52. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping analysts' consensus estimates of $3.32 by $0.20. The company had revenue of $3.46 billion for 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 firm's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.29 earnings per share. As a group, equities research analysts forecast that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern's dividend payout ratio is currently 46.08%.

Wall Street Analyst Weigh In

NSC has been the topic of a number of research analyst reports. Robert W. Baird upped their target price on shares of Norfolk Southern from $360.00 to $377.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Royal Bank Of Canada lifted their price target on Norfolk Southern from $320.00 to $360.00 and gave the stock a "sector perform" rating in a report on Friday, July 24th. Barclays boosted their price target on Norfolk Southern from $360.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Rothschild & Co Redburn upped their price objective on Norfolk Southern from $308.00 to $315.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Finally, Citigroup raised their price objective on Norfolk Southern from $351.00 to $376.00 and gave the company a "neutral" rating in a research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $348.00.

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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