Gibbs Wealth Management bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC – Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,846 shares of the railroad operator’s stock, valued at approximately $530,000.
Several other large investors have also recently added to or reduced their stakes in NSC. Brighton Jones LLC raised its position in shares of Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after purchasing an additional 79 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Norfolk Southern during the 2nd quarter valued at approximately $327,000. Schnieders Capital Management LLC. grew its stake in Norfolk Southern by 64.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after buying an additional 1,670 shares during the last quarter. Finally, Jump Financial LLC grew its stake in Norfolk Southern by 185.1% during the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after buying an additional 2,979 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.
Norfolk Southern Stock Up 0.9%
NSC stock opened at $351.69 on Friday. The firm’s 50-day moving average is $317.37 and its two-hundred day moving average is $306.16. The company has a market capitalization of $78.99 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 6.41 and a beta of 1.27. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98.
Norfolk Southern Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.5%. Norfolk Southern’s dividend payout ratio (DPR) is 46.08%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on NSC shares. UBS Group reiterated a “neutral” rating and issued a $363.00 target price on shares of Norfolk Southern in a research note on Friday. BMO Capital Markets upped their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research report on Monday, April 27th. Susquehanna lifted their price objective on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Barclays boosted their target price on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday. Finally, TD Cowen upped their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research report on Friday. Seven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of “Hold” and a consensus price target of $344.35.
Read Our Latest Research Report on NSC
More Norfolk Southern News
Here are the key news stories impacting Norfolk Southern this week:
- Positive Sentiment: Norfolk Southern beat Q2 expectations, posting $3.52 in EPS and revenue above estimates, with revenue up 12.5% year over year and record quarterly sales. Reuters article
- Positive Sentiment: Wells Fargo raised its price target to $385 and reiterated an overweight rating, signaling confidence that the stock still has room to run. Benzinga article
- Positive Sentiment: Citigroup lifted its target to $376, reflecting a more constructive view after the earnings release, even though it kept a neutral rating. Benzinga article
- Neutral Sentiment: JPMorgan raised its target to $338 but maintained a neutral rating, suggesting valuation looks less compelling after the recent move higher. Benzinga article
- Neutral Sentiment: Some commentary noted lower profitability and margin pressure despite the revenue beat, which may temper enthusiasm if cost pressures persist. Seeking Alpha article
- Negative Sentiment: Profitability was held back by higher fuel costs and lower efficiency, showing that cost inflation remains a headwind even as demand improves. TipRanks article
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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