Sound View Wealth Advisors Group LLC Has $1.24 Million Stake in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Sound View Wealth Advisors Group LLC reduced its stake in Norfolk Southern Corporation by 21.9%, owning 5,234 shares valued at $1,240,000 after selling 1,469 shares in the first quarter.
• Norfolk Southern announced a quarterly dividend of $1.35 per share, which translates to an annualized dividend of $5.40 and a dividend yield of 1.9%.
• Analysts have set new price targets for Norfolk Southern, with Sanford C. Bernstein raising theirs from $295.00 to $305.00, indicating strong market interest.

Sound View Wealth Advisors Group LLC decreased its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 21.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,234 shares of the railroad operator's stock after selling 1,469 shares during the period. Sound View Wealth Advisors Group LLC's holdings in Norfolk Southern were worth $1,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $28,000. Putney Financial Group LLC acquired a new stake in Norfolk Southern in the 4th quarter worth about $30,000. Greenline Partners LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at about $31,000. HWG Holdings LP acquired a new position in shares of Norfolk Southern in the 1st quarter valued at approximately $35,000. Finally, Physician Wealth Advisors Inc. raised its stake in Norfolk Southern by 129.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after acquiring an additional 84 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Price Performance

Shares of NSC traded up $0.69 during midday trading on Tuesday, hitting $278.81. 1,016,394 shares of the company traded hands, compared to its average volume of 1,543,915. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $288.11. The stock has a market cap of $62.62 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 2.44 and a beta of 1.31. The firm has a 50 day moving average of $260.72 and a 200-day moving average of $244.93.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, beating analysts' consensus estimates of $3.24 by $0.05. The company had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. On average, analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st will be issued a dividend of $1.35 per share. The ex-dividend date is Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern's payout ratio is 36.49%.

Analysts Set New Price Targets

Several brokerages recently weighed in on NSC. Jefferies Financial Group restated a "hold" rating and set a $300.00 target price on shares of Norfolk Southern in a research note on Friday, July 25th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $278.00 price target on shares of Norfolk Southern in a research report on Monday, June 2nd. Royal Bank Of Canada cut shares of Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Benchmark lowered shares of Norfolk Southern from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, Robert W. Baird raised their price target on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Norfolk Southern has a consensus rating of "Hold" and a consensus target price of $285.15.

Norfolk Southern Company 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.