OneAscent Financial Services LLC Makes New Investment in Norfolk Southern Corporation $NSC

OneAscent Financial Services LLC purchased a new stake in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,950 shares of the railroad operator’s stock, valued at approximately $613,000.

Several other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC lifted its stake 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 in the last quarter. Intech Investment Management LLC boosted its position in shares of Norfolk Southern by 40.4% during the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after buying an additional 1,855 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Norfolk Southern in the second quarter valued at $327,000. Schnieders Capital Management LLC. grew its stake 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 grew its stake 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 valued at $1,174,000 after buying an additional 2,979 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NSC shares. 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 research note on Monday, July 27th. JPMorgan Chase & Co. lifted 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. Citigroup lifted their target price on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. UBS Group reiterated a “neutral” rating and set a $363.00 price target on shares of Norfolk Southern in a research note on Friday, July 24th. Finally, Wells Fargo & Company increased their price target 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. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $348.00.

Norfolk Southern Stock Up 0.4%

Shares of NYSE NSC opened at $347.15 on Friday. The stock has a market cap of $77.97 billion, a P/E ratio of 29.62, a PEG ratio of 6.12 and a beta of 1.27. 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 Corporation has a 12-month low of $268.23 and a 12-month high of $358.60. The business’s fifty day simple moving average is $327.49 and its 200-day simple moving average is $313.05.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the previous year, the firm posted $3.29 EPS. Norfolk Southern’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities analysts predict that Norfolk Southern Corporation will post 12.66 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. Norfolk Southern’s payout ratio is currently 46.08%.

Norfolk Southern 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.