Wealth Science Advisors LLC Takes $566,000 Position in Norfolk Southern Corporation $NSC

Wealth Science Advisors LLC acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,800 shares of the railroad operator’s stock, valued at approximately $566,000.

Several other hedge funds have also bought and sold shares of NSC. JPL Wealth Management LLC purchased a new stake in Norfolk Southern during the third quarter valued at about $25,000. BNP Paribas purchased a new position in shares of Norfolk Southern in the 2nd quarter worth about $26,000. Meeder Asset Management Inc. increased its position in shares of Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after purchasing an additional 67 shares during the last quarter. Financial Life Planners bought a new position in shares of Norfolk Southern during the 1st quarter valued at about $33,000. Finally, Bayban purchased a new position in shares of Norfolk Southern during the 4th quarter valued at about $34,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $334.86 on Monday. The company has a market capitalization of $75.21 billion, a P/E ratio of 28.57, a PEG ratio of 5.95 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. 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 stock has a 50 day moving average price of $322.11 and a two-hundred day moving average price of $309.80.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the business earned $3.29 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. Analysts expect that Norfolk Southern Corporation will post 12.6 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be given a $1.35 dividend. The ex-dividend date is 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 presently 46.08%.

Analyst Ratings Changes

NSC has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen increased 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. Finally, Robert W. Baird lifted their target price on shares of Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat, Norfolk Southern presently has an average rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern Company 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.