Geneos Wealth Management Inc. Has $43.74 Million Stake in Norfolk Southern Corporation $NSC

Geneos Wealth Management Inc. increased its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 56.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,404 shares of the railroad operator’s stock after buying an additional 54,907 shares during the quarter. Norfolk Southern comprises approximately 1.0% of Geneos Wealth Management Inc.’s holdings, making the stock its 10th largest position. Geneos Wealth Management Inc.’s holdings in Norfolk Southern were worth $43,740,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. SouthState Bank Corp boosted its holdings in shares of Norfolk Southern by 30.6% during the first quarter. SouthState Bank Corp now owns 1,217 shares of the railroad operator’s stock valued at $349,000 after acquiring an additional 285 shares during the period. Checchi Capital Advisers LLC increased its holdings in shares of Norfolk Southern by 11.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,890 shares of the railroad operator’s stock worth $830,000 after acquiring an additional 293 shares during the period. Calamos Advisors LLC increased its holdings in shares of Norfolk Southern by 15.0% in the 1st quarter. Calamos Advisors LLC now owns 244,559 shares of the railroad operator’s stock worth $70,188,000 after acquiring an additional 31,837 shares during the period. AMG National Trust Bank lifted its position in Norfolk Southern by 45.0% in the 1st quarter. AMG National Trust Bank now owns 6,188 shares of the railroad operator’s stock valued at $1,776,000 after purchasing an additional 1,919 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC boosted its stake in Norfolk Southern by 983.8% during the 1st quarter. Bryn Mawr Trust Advisors LLC now owns 24,179 shares of the railroad operator’s stock valued at $6,939,000 after purchasing an additional 21,948 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Trading Up 0.3%

Shares of NYSE:NSC opened at $327.89 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The stock has a market capitalization of $73.64 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 5.97 and a beta of 1.27. Norfolk Southern Corporation has a 1-year low of $257.49 and a 1-year high of $329.38. The company has a 50 day moving average price of $313.74 and a 200 day moving average price of $303.83.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.69 earnings per share. On average, research analysts anticipate that Norfolk Southern Corporation will post 12.24 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio is currently 45.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Sanford C. Bernstein dropped their price target on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. UBS Group set a $327.00 price target on Norfolk Southern in a research note on Thursday, May 7th. Barclays raised their price target on Norfolk Southern from $320.00 to $360.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Stephens upgraded shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat.com, Norfolk Southern has an average rating of “Hold” and a consensus price target of $328.00.

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.