EFG International AG Invests $14.01 Million in Norfolk Southern Corporation $NSC

EFG International AG bought a new stake in Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 44,495 shares of the railroad operator’s stock, valued at approximately $14,005,000.

Several other institutional investors and hedge funds have also modified their holdings of NSC. Exencial Wealth Advisors LLC increased its holdings 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 purchasing an additional 35 shares in the last quarter. Sovereign Financial Group Inc. raised its position in Norfolk Southern by 3.3% in the 1st quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock valued at $318,000 after purchasing an additional 35 shares during the last quarter. Bar Harbor Wealth Management boosted its stake 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 purchasing an additional 36 shares in the last quarter. Apollon Financial LLC boosted its stake 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 purchasing an additional 36 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC grew its holdings 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 purchasing an additional 36 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NSC stock opened at $351.73 on Wednesday. The firm’s 50 day moving average price is $329.90 and its two-hundred day moving average price is $314.17. 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 52-week low of $268.23 and a 52-week high of $358.60. The stock has a market cap of $79.00 billion, a PE ratio of 30.01, a PEG ratio of 6.25 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate of $3.32 by $0.20. The company 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 business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.29 EPS. As a group, analysts forecast that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NSC. Susquehanna raised their target price on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. BMO Capital Markets upped their price target on shares of Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Royal Bank Of Canada increased their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Rothschild & Co Redburn boosted their target price on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $348.00.

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.