Norfolk Southern Corporation $NSC Shares Bought by Krilogy Financial LLC

Key Points

• Krilogy Financial increased its Norfolk Southern stake by 87.4% in the third quarter, bringing its holdings to 8,294 shares valued at approximately $2.65 million. Institutional investors collectively own 75.1% of the company.
• Norfolk Southern reported quarterly earnings of $3.52 per share, exceeding analyst expectations of $3.32, while revenue rose 12.5% year over year to $3.46 billion.
• The company pays a quarterly dividend of $1.35, equivalent to an annualized $5.40 and a 1.7% yield. Analysts maintain a consensus “Hold” rating, with an average price target of $346.94.

Krilogy Financial LLC boosted its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 87.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,294 shares of the railroad operator's stock after buying an additional 3,869 shares during the quarter. Krilogy Financial LLC's holdings in Norfolk Southern were worth $2,649,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Lineweaver Wealth Advisors LLC grew its position in shares of Norfolk Southern by 2.0% during the 3rd quarter. Lineweaver Wealth Advisors LLC now owns 6,682 shares of the railroad operator's stock valued at $2,065,000 after buying an additional 134 shares during the last quarter. Salvus Wealth Management LLC raised its stake in Norfolk Southern by 4.7% during the third quarter. Salvus Wealth Management LLC now owns 6,181 shares of the railroad operator's stock worth $1,910,000 after acquiring an additional 275 shares during the period. Sax Wealth Advisors LLC raised its stake in Norfolk Southern by 22.6% during the third quarter. Sax Wealth Advisors LLC now owns 2,329 shares of the railroad operator's stock worth $720,000 after acquiring an additional 430 shares during the period. Fragasso Financial Advisors Inc lifted its holdings in Norfolk Southern by 7.8% in the third quarter. Fragasso Financial Advisors Inc now owns 2,579 shares of the railroad operator's stock worth $820,000 after acquiring an additional 186 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its holdings in Norfolk Southern by 2.8% in the third quarter. NorthCrest Asset Manangement LLC now owns 54,546 shares of the railroad operator's stock worth $17,291,000 after acquiring an additional 1,511 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Up 0.8%

Norfolk Southern stock opened at $323.69 on Thursday. Norfolk Southern Corporation has a 52-week low of $277.80 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 firm has a market capitalization of $72.70 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 4.77 and a beta of 1.29. The firm has a 50-day moving average price of $327.65 and a two-hundred day moving average price of $318.83.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 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 net margin of 21.02% and a return on equity of 18.21%. Norfolk Southern's revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.29 earnings per share. Sell-side analysts expect that Norfolk Southern Corporation will post 12.85 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern's dividend payout ratio is 46.08%.

Wall Street Analyst Weigh In

NSC has been the subject of a number of research reports. Royal Bank Of Canada decreased their target price on Norfolk Southern from $360.00 to $330.00 and set a "sector perform" rating for the company in a research note on Thursday, September 24th. Barclays increased their price target on Norfolk Southern from $360.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Susquehanna dropped their price target on Norfolk Southern from $386.00 to $350.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Robert W. Baird raised their price target on Norfolk Southern from $360.00 to $377.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Finally, Evercore boosted their price objective on Norfolk Southern from $358.00 to $360.00 in a research report on Wednesday, September 30th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, Norfolk Southern currently has an average rating of "Hold" and an average price target of $346.94.

Norfolk Southern Company Profile

Norfolk Southern Corporation NYSE: NSC is a transportation company that operates one of the largest rail networks in the eastern United States. Through its principal subsidiary, Norfolk Southern Railway, the company provides freight rail transportation and related services for industrial, agricultural and consumer markets.

Norfolk Southern's network serves 22 states and the District of Columbia, connecting major ports, manufacturing centers and distribution hubs across the East Coast and the Midwest.

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