Norfolk Southern Corporation $NSC Shares Purchased by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its Norfolk Southern stake by 17.2% in the second quarter, bringing its holdings to 35,598 shares valued at approximately $11.2 million. Institutional investors collectively own 75.1% of the company.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in earnings per share and $3.46 billion in revenue, with revenue rising 12.5% year over year.
• The company declared a quarterly dividend of $1.35 per share, equivalent to a $5.40 annualized payout and a 1.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $348.

NewEdge Advisors LLC boosted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 17.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,598 shares of the railroad operator's stock after buying an additional 5,233 shares during the period. NewEdge Advisors LLC's holdings in Norfolk Southern were worth $11,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new stake in Norfolk Southern in the 3rd quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in Norfolk Southern during the 2nd quarter valued at approximately $26,000. BNP Paribas purchased a new position in shares of Norfolk Southern in the second quarter worth $26,000. Meeder Asset Management Inc. purchased a new position in shares of Norfolk Southern in the second quarter worth $27,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Norfolk Southern during the second quarter worth $31,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Performance

NYSE NSC opened at $320.78 on Friday. The stock has a market capitalization of $72.05 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 4.80 and a beta of 1.27. Norfolk Southern Corporation has a twelve month low of $273.76 and a twelve month high of $358.60. 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 $336.01 and a 200 day moving average of $315.99.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 21.02% and a return on equity of 18.21%. Norfolk Southern's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company posted $3.29 EPS. Sell-side analysts anticipate that Norfolk Southern Corporation will post 12.87 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 7th. Norfolk Southern's payout ratio is currently 46.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a "sector perform" rating in a report on Friday, July 24th. Susquehanna lifted their price target on Norfolk Southern from $337.00 to $360.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Benchmark reiterated a "hold" rating on shares of Norfolk Southern in a research note on Friday, July 24th. UBS Group reissued a "neutral" rating and issued a $363.00 price objective on shares of Norfolk Southern in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $316.00 to $338.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $348.00.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major freight railroad company serving the eastern United States. Through its railway network, the company transports raw materials, intermediate goods and finished products for industrial, agricultural, manufacturing and consumer markets. Its operations connect customers with domestic markets, major ports and other rail carriers.

The company transports a diverse range of commodities, including intermodal containers, coal, automotive products, agriculture and consumer goods, chemicals, metals, forest products and construction materials.

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