Westpac Banking Corp Buys Shares of 1,920 Norfolk Southern Corporation $NSC

Westpac Banking Corp purchased a new position in Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,920 shares of the railroad operator’s stock, valued at approximately $604,000.

Other institutional investors have also recently made changes to their positions in the company. JPL Wealth Management LLC bought a new stake in shares of Norfolk Southern during the 3rd quarter worth $25,000. Edmond DE Rothschild Holding S.A. bought a new position in Norfolk Southern in the second quarter valued at $26,000. BNP Paribas bought a new position in Norfolk Southern in the second quarter valued at $26,000. Meeder Asset Management Inc. purchased a new stake in Norfolk Southern during the second quarter valued at about $27,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in Norfolk Southern during the second quarter valued at about $31,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Up 1.2%

NSC opened at $350.77 on Friday. Norfolk Southern Corporation has a one year low of $268.23 and a one year high of $358.60. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The business has a 50 day simple moving average of $328.23 and a two-hundred day simple moving average of $313.31. The firm has a market capitalization of $78.79 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 6.21 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping 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 analyst estimates of $3.38 billion. During the same period last year, the company earned $3.29 EPS. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. Analysts predict that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.5%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NSC shares. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Weiss Ratings upgraded Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Finally, Citigroup upped their target price on Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research note 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $348.00.

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.