Elevation Point Wealth Partners LLC Raises Stock Position in Norfolk Southern Corporation $NSC

Elevation Point Wealth Partners LLC increased its position in Norfolk Southern Corporation (NYSE:NSC) by 449.3% during the first quarter, HoldingsChannel.com reports. The fund owned 11,546 shares of the railroad operator’s stock after acquiring an additional 9,444 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Norfolk Southern were worth $3,314,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in Norfolk Southern by 4.9% during the fourth 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 last quarter. Intech Investment Management LLC grew its holdings in Norfolk Southern by 40.4% in the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Norfolk Southern in the second quarter valued at $327,000. Schnieders Capital Management LLC. increased its position in shares of Norfolk Southern by 64.1% in the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock valued at $1,094,000 after buying an additional 1,670 shares in the last quarter. Finally, Jump Financial LLC raised its stake in shares of 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 owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on NSC. Jefferies Financial Group decreased their price objective on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Barclays raised their target price on shares of Norfolk Southern from $320.00 to $360.00 and gave the company an “overweight” rating in a report on Monday, April 27th. TD Cowen upped their price target on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a report on Monday, April 27th. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings cut shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $320.35.

Norfolk Southern Stock Up 0.0%

Shares of NYSE:NSC opened at $322.85 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market cap of $72.51 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 5.96 and a beta of 1.27. The stock’s 50-day moving average price is $312.52 and its two-hundred day moving average price is $302.00. Norfolk Southern Corporation has a 12-month low of $257.49 and a 12-month high of $326.00.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.69 EPS. On average, research analysts forecast that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern’s dividend payout ratio is 45.49%.

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.