Focus Partners Advisor Solutions LLC Takes $1.38 Million Position in Norfolk Southern Corporation $NSC

Key Points

• Focus Partners Advisor Solutions acquired 4,374 Norfolk Southern shares worth approximately $1.38 million in the second quarter. Institutional investors collectively own 75.1% of the railroad operator.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in EPS versus a $3.32 consensus estimate and $3.46 billion in revenue, up 12.5% year over year.
• The company declared a quarterly dividend of $1.35 per share, or $5.40 annualized, representing a 1.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $348.

Focus Partners Advisor Solutions LLC bought a new stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,374 shares of the railroad operator's stock, valued at approximately $1,376,000.

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

Norfolk Southern Stock Up 0.1%

Shares of NSC opened at $334.69 on Monday. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $75.17 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 5.92 and a beta of 1.27. The stock's 50-day moving average price is $324.87 and its 200-day moving average price is $311.52.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping the consensus estimate of $3.32 by $0.20. The firm 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%.Norfolk Southern's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $3.29 earnings per share. On average, sell-side analysts predict that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 7th. Norfolk Southern's dividend payout ratio is currently 46.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NSC shares. Citigroup upped their target price on Norfolk Southern from $351.00 to $376.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Robert W. Baird raised their price target on shares of Norfolk Southern from $360.00 to $377.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. TD Cowen lifted their price objective on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Stephens raised shares of Norfolk Southern to a "hold" rating in a report on Wednesday, July 8th. Finally, Rothschild & Co Redburn increased their price objective on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Norfolk Southern currently 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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