Kestra Private Wealth Services LLC Acquires 3,659 Shares of Norfolk Southern Corporation (NYSE:NSC)

Kestra Private Wealth Services LLC lifted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 29.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,161 shares of the railroad operator's stock after buying an additional 3,659 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Norfolk Southern were worth $3,828,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Fourth Dimension Wealth LLC bought a new stake in shares of Norfolk Southern during the 4th quarter valued at $28,000. Putney Financial Group LLC acquired a new stake in shares of Norfolk Southern during the fourth quarter worth $30,000. Greenline Partners LLC bought a new stake in Norfolk Southern in the fourth quarter valued at about $31,000. HWG Holdings LP bought a new stake in Norfolk Southern in the first quarter valued at about $35,000. Finally, Physician Wealth Advisors Inc. lifted its stake in Norfolk Southern by 129.2% in the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after buying an additional 84 shares during the period. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Up 2.7%

Norfolk Southern stock opened at $277.00 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 1.15. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $281.35. The company has a fifty day simple moving average of $252.39 and a 200 day simple moving average of $241.81. The company has a market cap of $62.45 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 2.27 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the firm posted $2.49 EPS. Norfolk Southern's revenue was down .4% compared to the same quarter last year. Research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Friday, May 2nd. Norfolk Southern's dividend payout ratio is currently 36.89%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NSC. Wells Fargo & Company lowered their price target on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Sanford C. Bernstein upped their target price on shares of Norfolk Southern from $258.00 to $295.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Robert W. Baird assumed coverage on shares of Norfolk Southern in a report on Tuesday, July 1st. They issued a "neutral" rating and a $255.00 target price on the stock. Citigroup lowered shares of Norfolk Southern from a "buy" rating to a "neutral" rating and boosted their price target for the company from $259.00 to $288.00 in a report on Wednesday, July 9th. Finally, UBS Group raised their price objective on Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Norfolk Southern currently has a consensus rating of "Moderate Buy" and an average target price of $274.55.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.

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