United Bank Buys New Shares in Norfolk Southern Corporation $NSC

United Bank bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,264 shares of the railroad operator’s stock, valued at approximately $1,341,000.

A number of other large investors have also bought and sold shares of the stock. Brighton Jones LLC raised its holdings in shares of Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares during the period. Intech Investment Management LLC grew its stake in shares of Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after buying an additional 1,855 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at about $327,000. Schnieders Capital Management LLC. increased its position in Norfolk Southern by 64.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock valued at $1,094,000 after buying an additional 1,670 shares in the last quarter. Finally, Jump Financial LLC increased its holdings in shares of Norfolk Southern by 185.1% during the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock valued at $1,174,000 after acquiring an additional 2,979 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Stephens raised shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. BMO Capital Markets upped their price objective on shares of Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Royal Bank Of Canada raised their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Wells Fargo & Company upped their target price on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Norfolk Southern presently has an average rating of “Hold” and an average price target of $348.00.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $345.56 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The stock has a market cap of $77.62 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 6.00 and a beta of 1.27. The stock’s fifty day simple moving average is $326.76 and its two-hundred day simple moving average is $312.66. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60.

Norfolk Southern (NYSE:NSC) last announced 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. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the company posted $3.29 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, analysts forecast that Norfolk Southern Corporation will post 12.66 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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. 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 is presently 46.08%.

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.