Empowered Funds LLC Grows Position in Norfolk Southern Corporation $NSC

Key Points

• Empowered Funds LLC increased its Norfolk Southern position by 91.7% in the first quarter, bringing its holdings to 25,230 shares valued at approximately $7.24 million. Institutional investors collectively own 75.1% of the company.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in 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, equal to a $5.40 annualized payout and a 1.6% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $348.

Empowered Funds LLC boosted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 91.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,230 shares of the railroad operator's stock after acquiring an additional 12,071 shares during the period. Empowered Funds LLC's holdings in Norfolk Southern were worth $7,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in NSC. JPL Wealth Management LLC purchased a new stake in shares of Norfolk Southern in the 3rd quarter worth approximately $25,000. Meeder Asset Management Inc. increased its holdings in Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator's stock valued at $27,000 after buying an additional 67 shares during the period. BNP Paribas purchased a new position in Norfolk Southern during the second quarter valued at approximately $26,000. Financial Life Planners bought a new position in Norfolk Southern in the first quarter worth approximately $33,000. Finally, Bayban bought a new position in Norfolk Southern in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Performance

Shares of NSC opened at $335.89 on Friday. 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 firm has a market cap of $75.45 billion, a PE ratio of 28.66, a P/E/G ratio of 5.94 and a beta of 1.27. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The stock has a fifty day moving average price of $319.64 and a 200-day moving average price of $307.90.

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 the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the business earned $3.29 EPS. The firm's revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts predict that Norfolk Southern Corporation will post 12.6 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern's dividend payout ratio (DPR) is currently 46.08%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank Of Canada increased their target price on Norfolk Southern from $320.00 to $360.00 and gave the company a "sector perform" rating in a research report on Friday, July 24th. Citigroup boosted their price target on Norfolk Southern from $351.00 to $376.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. TD Cowen boosted 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. Wells Fargo & Company upped their price objective on Norfolk Southern from $365.00 to $385.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $316.00 to $338.00 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 stock. According to MarketBeat, the company 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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