OneAscent Financial Services LLC Has $1.17 Million Position in Norfolk Southern Corporation (NYSE:NSC)

OneAscent Financial Services LLC grew its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 102.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,944 shares of the railroad operator's stock after purchasing an additional 2,501 shares during the quarter. OneAscent Financial Services LLC's holdings in Norfolk Southern were worth $1,170,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL grew its position in shares of Norfolk Southern by 16.9% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator's stock valued at $71,000 after purchasing an additional 44 shares during the last quarter. CoreCap Advisors LLC grew its position in Norfolk Southern by 1.5% during the fourth quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock worth $727,000 after buying an additional 45 shares in the last quarter. Canandaigua National Trust Co of Florida grew its position in Norfolk Southern by 4.9% during the first quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock worth $226,000 after buying an additional 45 shares in the last quarter. Capital Investment Advisory Services LLC grew its position in Norfolk Southern by 1.8% during the first quarter. Capital Investment Advisory Services LLC now owns 2,556 shares of the railroad operator's stock worth $605,000 after buying an additional 45 shares in the last quarter. Finally, Malaga Cove Capital LLC grew its position in Norfolk Southern by 2.1% during the fourth quarter. Malaga Cove Capital LLC now owns 2,451 shares of the railroad operator's stock worth $575,000 after buying an additional 50 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

NYSE:NSC opened at $277.00 on Monday. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $281.35. The firm has a 50 day moving average of $252.39 and a 200-day moving average of $241.81. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 1.15. The stock has a market capitalization 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 posted its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.03). The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. The business's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $2.49 EPS. As a group, sell-side analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently weighed in on NSC. JPMorgan Chase & Co. lifted their target price on Norfolk Southern from $272.00 to $282.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $278.00 price objective on shares of Norfolk Southern in a report on Monday, June 2nd. UBS Group lifted their price objective on Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a report on Friday, May 30th. Jefferies Financial Group decreased their price objective on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $255.00 price objective on shares of Norfolk Southern in a report on Thursday, April 24th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Norfolk Southern has a consensus rating of "Moderate Buy" and a consensus target price of $274.55.

Norfolk Southern 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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