2,834 Shares in Norfolk Southern Corporation $NSC Purchased by CM Wealth Advisors LLC

CM Wealth Advisors LLC bought a new position in Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 2,834 shares of the railroad operator’s stock, valued at approximately $892,000.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC grew its position in Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after acquiring an additional 79 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Norfolk Southern by 40.4% in the 1st 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 in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Norfolk Southern during the 2nd quarter valued at $327,000. Schnieders Capital Management LLC. raised its position in Norfolk Southern by 64.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after purchasing an additional 1,670 shares during the period. Finally, Jump Financial LLC increased its holdings in shares of Norfolk Southern by 185.1% in the second 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 period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Up 2.0%

Shares of NSC stock opened at $345.56 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The firm has a fifty day moving average price of $326.76 and a 200-day moving average price of $312.66. The company has a market cap of $77.62 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 6.00 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.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. The firm had revenue of $3.46 billion during 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%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.29 earnings per share. As a group, equities 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 declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 7th. Norfolk Southern’s payout ratio is currently 46.08%.

Analyst Ratings Changes

A number of equities analysts have issued reports on NSC shares. Rothschild & Co Redburn boosted their price objective on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada lifted their price target on Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. Robert W. Baird increased their price objective on Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, Norfolk Southern currently has a consensus rating of “Hold” and an average price target of $348.00.

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.