OneDigital Investment Advisors LLC Acquires Shares of 8,623 Norfolk Southern Corporation $NSC

Key Points

• OneDigital Investment Advisors acquired 8,623 shares of Norfolk Southern during the second quarter, valued at approximately $2.7 million. Institutional investors collectively own 75.1% of the railroad operator.
• Analysts raised several price targets, including Barclays to $400 and Wells Fargo to $385, although the overall consensus rating remains “Hold” with a $348 target price.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in EPS and $3.46 billion in revenue, up 12.5% year over year. The company also declared a $1.35 quarterly dividend, representing a 1.6% annualized yield.

OneDigital Investment Advisors LLC bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,623 shares of the railroad operator's stock, valued at approximately $2,713,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JPL Wealth Management LLC acquired a new position in Norfolk Southern in the 3rd quarter valued at about $25,000. Meeder Asset Management Inc. increased its holdings in shares of Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator's stock worth $27,000 after buying an additional 67 shares during the last quarter. BNP Paribas purchased a new stake in shares of Norfolk Southern during the 2nd quarter valued at approximately $26,000. Financial Life Planners acquired a new position in Norfolk Southern in the first quarter valued at approximately $33,000. Finally, Bayban purchased a new position in Norfolk Southern in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays lifted their target price on Norfolk Southern from $360.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. Wells Fargo & Company boosted their price objective on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Royal Bank Of Canada upped their target price on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a "sector perform" rating in a research report on Friday, July 24th. Rothschild & Co Redburn increased their target price on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Finally, UBS Group reiterated a "neutral" rating and set a $363.00 price target on shares of Norfolk Southern in a research report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $348.00.

Norfolk Southern Price Performance

NSC stock opened at $334.69 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The firm has a market capitalization of $75.17 billion, a P/E ratio of 28.56, a P/E/G ratio of 5.92 and a beta of 1.27. The business's 50-day moving average is $324.87 and its two-hundred day moving average is $311.52. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping analysts' consensus estimates of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the company posted $3.29 earnings per share. The business's revenue for the quarter was up 12.5% on a year-over-year basis. Analysts anticipate that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern's payout ratio is 46.08%.

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.

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