Dearborn Partners LLC Buys Shares of 3,090 Norfolk Southern Corporation $NSC

Key Points

• Dearborn Partners purchased 3,090 Norfolk Southern shares worth approximately $972,000 during the second quarter. Institutional investors collectively own 75.1% of NSC’s outstanding stock.
• Norfolk Southern reported quarterly earnings of $3.52 per share, exceeding estimates of $3.32, while revenue rose 12.5% year over year to $3.46 billion.
• The company paid a quarterly dividend of $1.35 per share, equivalent to an annualized $5.40 dividend and a 1.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $348.

Dearborn Partners LLC purchased a new stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,090 shares of the railroad operator's stock, valued at approximately $972,000.

A number of other hedge funds have also modified their holdings of NSC. JPL Wealth Management LLC purchased a new stake in Norfolk Southern in the 3rd quarter valued at about $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in Norfolk Southern during the second quarter worth about $26,000. BNP Paribas acquired a new stake in shares of Norfolk Southern during the second quarter valued at about $26,000. Meeder Asset Management Inc. acquired a new stake in shares of Norfolk Southern during the second quarter valued at about $27,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Norfolk Southern in the 2nd quarter valued at approximately $31,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 1.5%

NYSE:NSC opened at $347.32 on Friday. Norfolk Southern Corporation has a 12-month low of $268.23 and a 12-month high of $358.60. The firm has a market cap of $78.01 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 5.29 and a beta of 1.27. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The stock has a fifty day moving average price of $331.90 and a 200 day moving average price of $314.78.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.20. The company 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%.Norfolk Southern's revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.29 EPS. Sell-side analysts anticipate that Norfolk Southern Corporation will post 12.74 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, August 7th. Norfolk Southern's dividend payout ratio is presently 46.08%.

Analysts Set New Price Targets

NSC has been the topic of several recent analyst reports. Robert W. Baird upped their price objective on shares of Norfolk Southern from $360.00 to $377.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Stephens upgraded Norfolk Southern to a "hold" rating in a research note on Wednesday, July 8th. TD Cowen raised their price target on Norfolk Southern from $337.00 to $376.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Weiss Ratings upgraded Norfolk Southern from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 24th. Finally, Royal Bank Of Canada increased their target price on Norfolk Southern from $320.00 to $360.00 and gave the stock a "sector perform" rating in a research note on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, Norfolk Southern currently has an average rating of "Hold" and a consensus target price of $348.00.

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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