FSM Wealth Advisors LLC Takes Position in Norfolk Southern Corporation $NSC

FSM Wealth Advisors LLC bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 880 shares of the railroad operator’s stock, valued at approximately $229,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Princeton Global Asset Management LLC boosted its holdings in Norfolk Southern by 2.3% in the second quarter. Princeton Global Asset Management LLC now owns 1,640 shares of the railroad operator’s stock worth $420,000 after acquiring an additional 37 shares in the last quarter. Gables Capital Management Inc. boosted its stake in Norfolk Southern by 2.7% in the 2nd quarter. Gables Capital Management Inc. now owns 1,466 shares of the railroad operator’s stock worth $375,000 after purchasing an additional 38 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in Norfolk Southern by 1.7% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,429 shares of the railroad operator’s stock worth $622,000 after purchasing an additional 40 shares during the last quarter. Pinnacle Bancorp Inc. increased its stake in Norfolk Southern by 30.5% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock valued at $47,000 after purchasing an additional 43 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida raised its holdings in shares of Norfolk Southern by 4.9% in 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 during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NSC shares. Evercore ISI lifted their price objective on shares of Norfolk Southern from $289.00 to $298.00 in a research note on Thursday, September 25th. JPMorgan Chase & Co. raised their target price on Norfolk Southern from $288.00 to $303.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price target on shares of Norfolk Southern in a research note on Friday, July 25th. Baird R W raised Norfolk Southern to a “hold” rating in a report on Tuesday, July 1st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Norfolk Southern in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $293.80.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $283.89 on Friday. The stock has a market cap of $63.77 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 2.59 and a beta of 1.33. The business has a 50-day simple moving average of $285.79 and a 200-day simple moving average of $261.68. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $302.24.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.01). The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.11 billion. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%.The firm’s revenue was up .0% on a year-over-year basis. During the same period last year, the business earned $3.25 earnings per share. On average, equities analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 7th. Norfolk Southern’s payout ratio is 36.49%.

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.