Kendall Capital Management Takes Position in Norfolk Southern Corporation $NSC

Kendall Capital Management bought a new position in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, Holdings Channel reports. The fund bought 1,726 shares of the railroad operator’s stock, valued at approximately $543,000.

Several other institutional investors also recently modified their holdings of NSC. JPL Wealth Management LLC bought a new stake in Norfolk Southern during the third quarter worth about $25,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Norfolk Southern in the second quarter worth about $26,000. BNP Paribas bought a new position in shares of Norfolk Southern during the second quarter valued at approximately $26,000. Meeder Asset Management Inc. bought a new position in shares of Norfolk Southern during the second quarter valued at approximately $27,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of Norfolk Southern during the second quarter valued at approximately $31,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Performance

Shares of NSC opened at $350.77 on Friday. The company has a market cap of $78.79 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 6.21 and a beta of 1.27. The business’s fifty day simple moving average is $328.23 and its two-hundred day simple moving average is $313.31. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.20. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.29 earnings per share. Research analysts anticipate that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm 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 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Citigroup raised their price objective on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a research note on Friday, July 24th. Robert W. Baird boosted their target price on Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Finally, BMO Capital Markets increased their target price on Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.