Glenview Trust Co bought a new position in Norfolk Southern Corporation (NYSE:NSC – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 36,527 shares of the railroad operator’s stock, valued at approximately $11,491,000.
A number of other hedge funds have also made changes to their positions in the company. JPL Wealth Management LLC acquired a new position in Norfolk Southern in the third quarter valued at about $25,000. Edmond DE Rothschild Holding S.A. bought a new stake in Norfolk Southern during the second quarter worth about $26,000. BNP Paribas acquired a new stake in shares of Norfolk Southern during the second quarter worth approximately $26,000. Meeder Asset Management Inc. acquired a new stake in shares of Norfolk Southern during the second quarter worth approximately $27,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Norfolk Southern in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 75.10% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently commented on NSC shares. Wells Fargo & Company boosted their target price on Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. UBS Group reaffirmed a “neutral” rating and set a $363.00 price target on shares of Norfolk Southern in a report on Friday, July 24th. Stephens upgraded Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Royal Bank Of Canada boosted their price objective on Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Finally, Benchmark restated a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, Norfolk Southern presently has an average rating of “Hold” and a consensus price target of $348.00.
Norfolk Southern Price Performance
Shares of NSC stock opened at $347.32 on Friday. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The firm’s 50 day moving average is $331.90 and its 200-day moving average is $314.78. The firm has a market capitalization of $78.01 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 5.29 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 (NYSE:NSC – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate of $3.32 by $0.20. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. Norfolk Southern’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.29 earnings per share. Sell-side analysts forecast that Norfolk Southern Corporation will post 12.74 EPS for the current fiscal year.
Norfolk Southern Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 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.
Featured Articles
- Five stocks we like better than Norfolk Southern
- Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape
- SEC Probe Puts Wall Street Leverage Risk Back in Focus
- A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole
- Five Below’s Turnaround Is Working—But Has the Stock Run Too Far?
Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.
