Elevation Point Wealth Partners LLC Invests $3.54 Million in Norfolk Southern Corporation $NSC

Elevation Point Wealth Partners LLC bought 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 firm bought 11,256 shares of the railroad operator’s stock, valued at approximately $3,541,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. JPL Wealth Management LLC acquired a new stake in Norfolk Southern during the 3rd quarter worth about $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Norfolk Southern during the 2nd quarter valued at about $26,000. BNP Paribas purchased a new position in shares of Norfolk Southern during the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at about $27,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at about $31,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

NYSE:NSC opened at $350.77 on Friday. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $78.79 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 6.21 and a beta of 1.27. The stock’s 50-day moving average price is $328.23 and its 200-day moving average price is $313.31.

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

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders 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 of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Robert W. Baird upped their target price on Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings raised Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. JPMorgan Chase & Co. boosted their price target on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Rothschild & Co Redburn upped their price objective on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Seven 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 presently has a consensus rating of “Hold” and an average target price of $348.00.

About Norfolk Southern

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.