Tenzing Financial LLC Takes $572,000 Position in Norfolk Southern Corporation $NSC

Tenzing Financial LLC purchased a new stake 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 firm purchased 1,778 shares of the railroad operator’s stock, valued at approximately $572,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wealth Science Advisors LLC purchased a new position in shares of Norfolk Southern in the second quarter worth $566,000. Sax Wealth Advisors LLC increased its holdings in Norfolk Southern by 61.9% in the 2nd quarter. Sax Wealth Advisors LLC now owns 1,899 shares of the railroad operator’s stock worth $545,000 after buying an additional 726 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in Norfolk Southern in the 2nd quarter worth about $239,000. Gradient Investments LLC purchased a new position in Norfolk Southern in the 2nd quarter worth about $261,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Norfolk Southern by 892.2% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,022 shares of the railroad operator’s stock valued at $322,000 after acquiring an additional 919 shares during the period. 75.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NSC shares. Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a research note on Friday, July 24th. Royal Bank Of Canada increased 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 report on Friday, July 24th. BMO Capital Markets raised their target price 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. TD Cowen lifted their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company increased their price target on Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Stock Performance

NYSE:NSC opened at $334.86 on Monday. 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 simple moving average of $322.11 and a two-hundred day simple moving average of $309.80. The firm has a market capitalization of $75.21 billion, a PE ratio of 28.57, a P/E/G ratio of 5.95 and a beta of 1.27. Norfolk Southern Corporation has a 52-week low of $268.23 and a 52-week high of $358.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share 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 for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the previous year, the firm earned $3.29 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. Analysts forecast that Norfolk Southern Corporation will post 12.6 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern’s dividend payout ratio is currently 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.