Beverly Hills Private Wealth LLC Makes New Investment in Norfolk Southern Corporation $NSC

Beverly Hills Private Wealth LLC acquired a new stake in Norfolk Southern Corporation (NYSE:NSCFree Report) in the second quarter, Holdings Channel reports. The fund acquired 3,934 shares of the railroad operator’s stock, valued at approximately $1,237,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. JPL Wealth Management LLC bought a new stake in shares of Norfolk Southern in the third quarter valued at approximately $25,000. BNP Paribas bought a new position in Norfolk Southern during the 2nd quarter worth $26,000. Meeder Asset Management Inc. increased its stake in Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 67 shares during the period. Financial Life Planners acquired a new position in Norfolk Southern in the 1st quarter valued at $33,000. Finally, Bayban acquired a new position in Norfolk Southern in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.1%

Shares of Norfolk Southern stock opened at $334.69 on Monday. The firm’s 50 day moving average is $324.87 and its 200 day moving average is $311.52. The firm has a market capitalization of $75.17 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 5.92 and a beta of 1.27. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. 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:NSCGet Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the firm earned $3.29 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. Equities research analysts forecast that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be issued 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 1.6%. Norfolk Southern’s dividend payout ratio is 46.08%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NSC. BMO Capital Markets increased their target price on Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Stephens raised Norfolk Southern to a “hold” rating in a research note on Wednesday, July 8th. Wells Fargo & Company upped their price objective on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Susquehanna increased their price objective on shares of Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Finally, Evercore set a $358.00 target price on shares of Norfolk Southern in a report on Thursday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $348.00.

View Our Latest Research Report on NSC

Norfolk Southern Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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