Empowered Funds LLC Buys 12,071 Shares of Norfolk Southern Corporation $NSC

Key Points

• Empowered Funds LLC increased its Norfolk Southern stake by 91.7% in the first quarter, purchasing 12,071 additional shares for a total holding valued at approximately $7.24 million. Institutional investors collectively own 75.1% of the company.
• Analysts remain cautious, with a consensus “Hold” rating and an average price target of $348. Several brokerages raised their targets, ranging from $360 to $377, while maintaining neutral or hold recommendations.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in EPS and $3.46 billion in revenue, with revenue up 12.5% year over year. The company also declared a quarterly dividend of $1.35 per share, representing a 1.6% annualized yield.

Empowered Funds LLC grew its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 91.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,230 shares of the railroad operator's stock after purchasing an additional 12,071 shares during the quarter. Empowered Funds LLC's holdings in Norfolk Southern were worth $7,241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NSC. Brighton Jones LLC raised its position in Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after acquiring an additional 79 shares in the last quarter. Intech Investment Management LLC lifted its stake in Norfolk Southern by 40.4% in the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock valued at $1,527,000 after acquiring an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Norfolk Southern in the 2nd quarter valued at about $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 own 75.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NSC. Royal Bank Of Canada upped their target price on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a "sector perform" rating in a report on Friday, July 24th. Stephens upgraded Norfolk Southern to a "hold" rating in a report on Wednesday, July 8th. Susquehanna boosted their price target on Norfolk Southern from $337.00 to $360.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Robert W. Baird upped 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. 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 investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $348.00.

Norfolk Southern Stock Down 0.9%

Shares of NSC opened at $334.69 on Friday. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60. The firm has a market cap of $75.17 billion, a P/E ratio of 28.56, a price-to-earnings-growth ratio of 5.92 and a beta of 1.27. The firm's 50-day simple moving average is $324.87 and its 200 day simple moving average is $311.36. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83.

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 for the quarter, beating the consensus estimate of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business's revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.29 EPS. On average, analysts forecast that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. Norfolk Southern's dividend payout ratio (DPR) is 46.08%.

Norfolk Southern Company 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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