NewEdge Advisors LLC Reduces Stock Position in Norfolk Southern Corporation $NSC

NewEdge Advisors LLC lessened its position in Norfolk Southern Corporation (NYSE:NSC) by 32.0% during the first quarter, Holdings Channel.com reports. The fund owned 30,365 shares of the railroad operator’s stock after selling 14,310 shares during the period. NewEdge Advisors LLC’s holdings in Norfolk Southern were worth $8,715,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NSC. Brighton Jones LLC boosted its holdings in shares of Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after purchasing an additional 79 shares during the period. Intech Investment Management LLC raised its position in Norfolk Southern by 40.4% during the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Norfolk Southern during the 2nd quarter valued at approximately $327,000. Schnieders Capital Management LLC. lifted its holdings in Norfolk Southern by 64.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after buying an additional 1,670 shares during the period. Finally, Jump Financial LLC grew its position in shares of Norfolk Southern by 185.1% in the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after buying an additional 2,979 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Rothschild & Co Redburn upped their target price on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Stephens upgraded shares of Norfolk Southern to a “hold” rating in a report on Wednesday, July 8th. Evercore set a $358.00 target price on shares of Norfolk Southern in a research note on Thursday, July 23rd. Royal Bank Of Canada increased their price target on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Finally, UBS Group reaffirmed a “neutral” rating and set a $363.00 price objective on shares of Norfolk Southern in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $348.00.

Norfolk Southern Trading Up 0.2%

NYSE:NSC opened at $334.86 on Monday. The stock has a market cap of $75.21 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 5.95 and a beta of 1.27. 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 company’s 50 day moving average price is $322.11 and its 200-day moving average price is $309.80. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60.

Norfolk Southern (NYSE:NSC) last announced 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. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.29 EPS. On average, equities research analysts forecast that Norfolk Southern Corporation will post 12.6 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be paid a $1.35 dividend. The ex-dividend date is Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. Norfolk Southern’s 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.