NewEdge Wealth LLC Purchases Shares of 17,525 Norfolk Southern Corporation $NSC

NewEdge Wealth LLC purchased a new position in Norfolk Southern Corporation (NYSE:NSC) in the second quarter, HoldingsChannel reports. The institutional investor purchased 17,525 shares of the railroad operator’s stock, valued at approximately $5,513,000.

Several other institutional investors and hedge funds have also made changes to their positions in NSC. JPL Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the third quarter valued at $25,000. BNP Paribas purchased a new position in Norfolk Southern in the 2nd quarter worth $26,000. Meeder Asset Management Inc. purchased a new position in Norfolk Southern in the 2nd quarter worth $27,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Norfolk Southern during the 2nd quarter worth about $31,000. Finally, Financial Life Planners acquired a new stake in Norfolk Southern during the 1st quarter worth about $33,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on NSC. Rothschild & Co Redburn boosted their price target on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Citigroup raised their price objective on Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Susquehanna lifted their target price on Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. upped their target price 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, Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Seven research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $348.00.

Norfolk Southern Price Performance

Shares of NSC opened at $345.56 on Thursday. The business’s 50-day moving average is $326.76 and its two-hundred day moving average is $312.66. The company has a market capitalization of $77.62 billion, a P/E ratio of 29.48, a P/E/G ratio of 6.00 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. Norfolk Southern Corporation has a fifty-two week low of $268.23 and a fifty-two week high of $358.60.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $3.29 EPS. Research analysts predict that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.08%.

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.