Elevation Point Wealth Partners LLC Invests $3.54 Million in Norfolk Southern Corporation $NSC

Elevation Point Wealth Partners LLC acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 11,256 shares of the railroad operator’s stock, valued at approximately $3,541,000.

Other institutional investors have also recently made changes to their positions in the company. Exencial Wealth Advisors LLC increased its position in Norfolk Southern by 1.1% during the 4th quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock valued at $929,000 after buying an additional 35 shares in the last quarter. Sovereign Financial Group Inc. raised its stake in Norfolk Southern by 3.3% in the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock valued at $318,000 after buying an additional 35 shares during the last quarter. Bar Harbor Wealth Management boosted its holdings in Norfolk Southern by 0.6% in the first quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator’s stock worth $1,805,000 after acquiring an additional 36 shares in the last quarter. Apollon Financial LLC boosted its holdings in Norfolk Southern by 4.3% in the first quarter. Apollon Financial LLC now owns 881 shares of the railroad operator’s stock worth $253,000 after acquiring an additional 36 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC grew its stake in shares of Norfolk Southern by 4.6% during the first quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator’s stock worth $237,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Up 1.2%

Norfolk Southern stock opened at $350.77 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. The business’s 50-day simple moving average is $328.23 and its two-hundred day simple moving average is $313.31. The company has a market cap of $78.79 billion, a PE ratio of 29.93, a PEG ratio of 6.21 and a beta of 1.27. 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 announced 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. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the company earned $3.29 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. Equities analysts anticipate that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were given a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.5%. Norfolk Southern’s dividend payout ratio is currently 46.08%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NSC. Citigroup upped their price objective on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a report on Friday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Evercore set a $358.00 target price on shares of Norfolk Southern in a research report on Thursday, July 23rd. TD Cowen boosted their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Stephens upgraded shares of Norfolk Southern to a “hold” rating in a research note on Wednesday, July 8th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently 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.