Kestra Advisory Services LLC Acquires 4,076 Shares of Norfolk Southern Corporation $NSC

Key Points

• Kestra Advisory Services LLC increased its stake in Norfolk Southern by 21.1% in the first quarter, buying 4,076 additional shares and bringing its total holdings to 23,420 shares valued at about $6.72 million.
• Analysts remain mixed on the railroad operator: the current consensus rating is Hold with an average price target of $328, even though several firms recently adjusted their targets and recommendations.
• Norfolk Southern reported better-than-expected earnings of $2.65 per share in its latest quarter, but revenue came in below estimates; the company also pays a quarterly dividend of $1.35 per share, implying a 1.7% yield.

Kestra Advisory Services LLC increased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 21.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 23,420 shares of the railroad operator's stock after purchasing an additional 4,076 shares during the period. Kestra Advisory Services LLC's holdings in Norfolk Southern were worth $6,722,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new position in shares of Norfolk Southern during the third quarter worth approximately $25,000. GoalVest Advisory LLC raised its holdings in Norfolk Southern by 933.3% in the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator's stock valued at $27,000 after acquiring an additional 84 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in Norfolk Southern by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator's stock valued at $27,000 after acquiring an additional 67 shares in the last quarter. FNY Investment Advisers LLC lifted its position in shares of Norfolk Southern by 669.2% in the 3rd quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator's stock worth $30,000 after acquiring an additional 87 shares during the period. Finally, BNP Paribas bought a new stake in shares of Norfolk Southern in the 2nd quarter worth approximately $26,000. Institutional investors own 75.10% of the company's stock.

Analysts Set New Price Targets

NSC has been the topic of a number of research reports. Rothschild & Co Redburn boosted their price objective on Norfolk Southern from $308.00 to $315.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Stephens raised shares of Norfolk Southern to a "hold" rating in a report on Wednesday, July 8th. Wolfe Research increased their price objective on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an "outperform" rating in a research note on Tuesday, April 7th. Sanford C. Bernstein reduced their price objective on shares of Norfolk Southern from $322.00 to $313.00 and set an "outperform" rating for the company in a report on Tuesday, March 31st. Finally, UBS Group set a $327.00 price target on shares of Norfolk Southern in a research report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company's stock. According to data from MarketBeat.com, Norfolk Southern currently has a consensus rating of "Hold" and an average target price of $328.00.

Norfolk Southern Stock Down 0.3%

Shares of NYSE NSC opened at $326.75 on Wednesday. Norfolk Southern Corporation has a 12-month low of $257.49 and a 12-month high of $329.38. The firm's 50-day simple moving average is $313.54 and its 200 day simple moving average is $303.58. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The company has a market cap of $73.38 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 5.99 and a beta of 1.27.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter last year, the company posted $2.69 EPS. The company's quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts expect that Norfolk Southern Corporation will post 12.24 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern's dividend payout ratio is currently 45.49%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.