Pure Financial Advisors LLC Takes Position in Norfolk Southern Corporation $NSC

Key Points

• Pure Financial Advisors LLC purchased 919 shares of Norfolk Southern Corporation (NSC), valued at approximately $235,000, during the second quarter of 2023.
• Norfolk Southern reported a quarterly EPS of $3.29, exceeding the consensus estimate of $3.24, with revenues of $3.11 billion beating expectations.
• The company declared a quarterly dividend of $1.35, resulting in an annualized dividend yield of 1.8% and a payout ratio of 36.49%.

Pure Financial Advisors LLC purchased a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 919 shares of the railroad operator's stock, valued at approximately $235,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. WPG Advisers LLC purchased a new position in shares of Norfolk Southern during the first quarter worth approximately $27,000. HWG Holdings LP bought a new position in Norfolk Southern in the first quarter worth approximately $35,000. Physician Wealth Advisors Inc. increased its holdings in Norfolk Southern by 129.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock worth $35,000 after purchasing an additional 84 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in Norfolk Southern during the 1st quarter worth $41,000. Finally, Golden State Wealth Management LLC raised its position in Norfolk Southern by 883.3% during the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock valued at $42,000 after purchasing an additional 159 shares in the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Up 0.6%

Shares of Norfolk Southern stock opened at $300.02 on Friday. The firm's 50 day simple moving average is $282.63 and its two-hundred day simple moving average is $255.94. The firm has a market capitalization of $67.39 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 2.66 and a beta of 1.33. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $302.24. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, topping the consensus estimate of $3.24 by $0.05. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. Analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.8%. Norfolk Southern's dividend payout ratio is currently 36.49%.

Analyst Ratings Changes

NSC has been the topic of a number of recent research reports. Susquehanna increased their price target on Norfolk Southern from $284.00 to $295.00 and gave the stock a "neutral" rating in a research report on Thursday, September 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Norfolk Southern from $290.00 to $354.00 and gave the stock a "buy" rating in a research note on Wednesday. Robert W. Baird raised their target price on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Benchmark lowered Norfolk Southern from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. Finally, Sanford C. Bernstein raised their price target on shares of Norfolk Southern from $295.00 to $305.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Eight research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $292.50.

About Norfolk Southern

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.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corporation (NYSE:NSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.