Simplicity Wealth LLC Invests $4.36 Million in Norfolk Southern Corporation $NSC

Key Points

• Simplicity Wealth LLC acquired 13,845 Norfolk Southern shares worth approximately $4.36 million in the second quarter. Institutional investors and hedge funds collectively own 75.1% of the company.
• Analysts maintain a consensus “Hold” rating, with an average price target of $348; several firms recently raised their targets to between $355 and $376.
• Norfolk Southern exceeded quarterly earnings and revenue expectations, reporting $3.52 in EPS and $3.46 billion in revenue, while declaring a quarterly dividend of $1.35 per share.

Simplicity Wealth LLC bought a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,845 shares of the railroad operator's stock, valued at approximately $4,356,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPL Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the third quarter valued at $25,000. BNP Paribas acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at $26,000. Meeder Asset Management Inc. increased its stake in Norfolk Southern by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator's stock worth $27,000 after purchasing an additional 67 shares in the last quarter. Financial Life Planners purchased a new position in Norfolk Southern in the 1st quarter worth about $33,000. Finally, Bayban acquired a new stake in Norfolk Southern during the 4th quarter worth about $34,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Weiss Ratings raised shares of Norfolk Southern from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 24th. Royal Bank Of Canada boosted their price target 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. Wall Street Zen upgraded shares of Norfolk Southern from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Citigroup raised their price objective on shares of Norfolk Southern from $351.00 to $376.00 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. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $348.00.

Norfolk Southern Stock Up 0.1%

Shares of Norfolk Southern stock opened at $334.69 on Monday. The stock has a 50-day moving average price of $324.87 and a 200 day moving average price of $311.52. The company has a market cap 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 company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. 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 firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the company posted $3.29 EPS. The business's quarterly revenue was up 12.5% compared to the same quarter last year. As a group, analysts expect that Norfolk Southern Corporation will post 12.66 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

About Norfolk Southern

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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