Norfolk Southern Corporation $NSC Holdings Lowered by BIP Wealth LLC

BIP Wealth LLC cut its stake in Norfolk Southern Corporation (NYSE:NSC) by 6.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,704 shares of the railroad operator’s stock after selling 112 shares during the period. BIP Wealth LLC’s holdings in Norfolk Southern were worth $436,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC boosted its stake in Norfolk Southern by 2.3% during the 2nd quarter. Princeton Global Asset Management LLC now owns 1,640 shares of the railroad operator’s stock valued at $420,000 after purchasing an additional 37 shares in the last quarter. Gables Capital Management Inc. lifted its holdings in shares of Norfolk Southern by 2.7% in the second quarter. Gables Capital Management Inc. now owns 1,466 shares of the railroad operator’s stock valued at $375,000 after buying an additional 38 shares during the period. SeaCrest Wealth Management LLC grew its holdings in Norfolk Southern by 1.7% during the second quarter. SeaCrest Wealth Management LLC now owns 2,429 shares of the railroad operator’s stock worth $622,000 after acquiring an additional 40 shares during the period. Pinnacle Bancorp Inc. grew its holdings in Norfolk Southern by 30.5% during the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock worth $47,000 after acquiring an additional 43 shares during the period. Finally, Canandaigua National Trust Co of Florida raised its position in Norfolk Southern by 4.9% in the first quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator’s stock worth $226,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NSC shares. Bank of America lifted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Norfolk Southern from $290.00 to $354.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. upped their price target on Norfolk Southern from $288.00 to $303.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. UBS Group reduced their price objective on Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a research note on Friday. Finally, Barclays boosted their target price on Norfolk Southern from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $299.70.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $280.29 on Friday. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The stock has a market cap of $62.96 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. The business has a fifty day simple moving average of $285.78 and a 200-day simple moving average of $262.58.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.31 by ($0.01). Norfolk Southern had a return on equity of 19.13% and a net margin of 24.22%.The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the prior year, the company posted $3.25 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. On average, sell-side analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, November 7th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, November 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 36.49%.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.