2,788 Shares in Norfolk Southern Corporation $NSC Bought by Diversify Advisory Services LLC

Diversify Advisory Services LLC acquired a new position in Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,788 shares of the railroad operator’s stock, valued at approximately $957,000.

A number of other hedge funds also recently modified their holdings of NSC. JPL Wealth Management LLC purchased a new stake in Norfolk Southern in the 3rd quarter worth about $25,000. BNP Paribas purchased a new stake in Norfolk Southern during the second quarter valued at about $26,000. Meeder Asset Management Inc. bought a new position in Norfolk Southern during the second quarter worth about $27,000. Financial Life Planners purchased a new position in shares of Norfolk Southern in the first quarter worth about $33,000. Finally, Bayban purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at approximately $34,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 2.0%

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

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

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders 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 dividend yield of 1.6%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. Susquehanna raised their price target on Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Wells Fargo & Company lifted their price target on Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” 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. Finally, JPMorgan Chase & Co. increased their price objective on Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, Norfolk Southern currently has a consensus rating of “Hold” and a consensus target price 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.