Empowered Funds LLC Purchases New Position in Norfolk Southern Corporation $NSC

Empowered Funds LLC acquired a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,375 shares of the railroad operator's stock, valued at approximately $5,466,000.

Several other institutional investors also recently bought and sold shares of NSC. United Capital Financial Advisors LLC bought a new stake in Norfolk Southern during the 2nd quarter valued at $3,286,000. Dearborn Partners LLC bought a new position in shares of Norfolk Southern during the 2nd quarter worth $972,000. Yukon Wealth Management Inc. purchased a new position in shares of Norfolk Southern during the second quarter valued at $2,471,000. Brooks Moore & Associates Inc. purchased a new position in shares of Norfolk Southern during the second quarter valued at $1,913,000. Finally, Hayek Kallen Investment Management bought a new stake in shares of Norfolk Southern in the second quarter valued at about $1,013,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 1.6%

Shares of NYSE NSC opened at $343.21 on Tuesday. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60. The business has a fifty day moving average price of $333.67 and a 200 day moving average price of $315.27. The stock has a market capitalization of $77.09 billion, a P/E ratio of 29.28, a price-to-earnings-growth ratio of 5.23 and a beta of 1.27. 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 posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the firm earned $3.29 earnings per share. Equities research analysts expect that Norfolk Southern Corporation will post 12.74 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were issued a $1.35 dividend. 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 (DPR) is currently 46.08%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NSC shares. Benchmark reaffirmed a "hold" rating on shares of Norfolk Southern in a research note on Friday, July 24th. Robert W. Baird boosted their price target 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. Wells Fargo & Company boosted their price target on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an "overweight" rating in a report on Friday, July 24th. JPMorgan Chase & Co. upped their price target on shares of Norfolk Southern from $316.00 to $338.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Finally, Royal Bank Of Canada increased their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a "sector perform" rating in a research note on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average 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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