Kelman Lazarov Inc. purchased a new stake in Norfolk Southern Corporation (NYSE:NSC – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,766 shares of the railroad operator’s stock, valued at approximately $870,000.
A number of other large investors have also recently added to or reduced their stakes in NSC. JPL Wealth Management LLC acquired a new position in Norfolk Southern during the 3rd quarter worth $25,000. BNP Paribas bought a new position in shares of Norfolk Southern during the second quarter worth about $26,000. Meeder Asset Management Inc. bought a new position in shares of Norfolk Southern during the second quarter worth about $27,000. Comprehensive Financial Planning Inc. PA acquired a new position in Norfolk Southern in the second quarter worth about $31,000. Finally, Financial Life Planners bought a new stake in Norfolk Southern in the first quarter valued at about $33,000. 75.10% of the stock is currently owned by institutional investors.
Norfolk Southern Stock Up 2.0%
Shares of Norfolk Southern stock opened at $345.56 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The business’s 50 day simple moving average is $326.76 and its 200-day simple moving average is $312.66. The stock has a market capitalization of $77.62 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 6.00 and a beta of 1.27. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60.
Norfolk Southern Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.
Analyst Upgrades and Downgrades
NSC has been the topic of several research reports. Royal Bank Of Canada upped their price objective on Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. UBS Group reiterated a “neutral” rating and issued a $363.00 target price on shares of Norfolk Southern in a research report on Friday, July 24th. Citigroup boosted their price target on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a report on Friday, July 24th. JPMorgan Chase & Co. upped their price target on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Susquehanna raised their price objective on Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $348.00.
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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