EP Wealth Advisors LLC acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,251 shares of the railroad operator's stock, valued at approximately $3,854,000.
Other institutional investors have also recently bought and sold shares of the company. JPL Wealth Management LLC bought a new stake in Norfolk Southern in the 3rd quarter valued at about $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in Norfolk Southern in the 2nd quarter valued at $26,000. BNP Paribas bought a new stake in shares of Norfolk Southern during the 2nd quarter valued at $26,000. Meeder Asset Management Inc. acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth approximately $27,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in Norfolk Southern in the second quarter valued at about $31,000. Institutional investors own 75.10% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Robert W. Baird upped their target price on Norfolk Southern from $360.00 to $377.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Wells Fargo & Company increased their price target on Norfolk Southern from $365.00 to $385.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. UBS Group reissued a "neutral" rating and set a $363.00 target price on shares of Norfolk Southern in a research note on Friday, July 24th. BMO Capital Markets raised their price objective on Norfolk Southern from $310.00 to $355.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Finally, TD Cowen upped their target price on Norfolk Southern from $337.00 to $376.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Seven research 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 company currently has a consensus rating of "Hold" and an average price target of $348.00.
View Our Latest Research Report on NSC
Norfolk Southern Trading Up 1.2%
NYSE NSC opened at $350.77 on Friday. The firm has a market cap of $78.79 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 6.21 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 50-day moving average of $328.23 and a 200-day moving average of $313.31. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60.
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 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 revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.29 earnings per share. As a group, sell-side analysts forecast that Norfolk Southern Corporation will post 12.66 EPS for the current year.
Norfolk Southern Dividend Announcement
The business also recently announced 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 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern's payout ratio is 46.08%.
About Norfolk Southern
(
Free Report)
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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