1,569 Shares in Norfolk Southern Corporation $NSC Purchased by EJMK Ventures LLC

EJMK Ventures LLC acquired a new stake in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, Holdings Channel reports. The firm acquired 1,569 shares of the railroad operator’s stock, valued at approximately $494,000.

Several other institutional investors have also added to or reduced their stakes in the business. Moss Adams Wealth Advisors LLC boosted its position in Norfolk Southern by 4.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock worth $228,000 after purchasing an additional 35 shares during the period. Confluence Wealth Services Inc. raised its position in shares of Norfolk Southern by 1.1% in the fourth quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock valued at $892,000 after purchasing an additional 35 shares during the period. Exencial Wealth Advisors LLC lifted its stake in shares of 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. lifted its stake in shares of Norfolk Southern by 3.3% during the 1st 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 in the last quarter. Finally, Bar Harbor Wealth Management boosted its holdings in Norfolk Southern by 0.6% in the 1st quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator’s stock worth $1,805,000 after buying an additional 36 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NSC has been the topic of a number of analyst reports. TD Cowen boosted their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wall Street Zen upgraded Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Wells Fargo & Company lifted their target price on Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Finally, Barclays increased their price target on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $348.00.

Norfolk Southern Stock Performance

NYSE:NSC opened at $334.69 on Friday. The business’s 50-day moving average price is $324.87 and its two-hundred day moving average price is $311.36. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60. The stock has a market cap of $75.17 billion, a P/E ratio of 28.56, a PEG ratio of 5.92 and a beta of 1.27. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) 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 firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the company posted $3.29 EPS. The company’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 announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis 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 currently 46.08%.

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.