Texas Capital Bank Wealth Management Services Inc Purchases Shares of 1,958 Norfolk Southern Corporation $NSC

Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,958 shares of the railroad operator’s stock, valued at approximately $616,000.

Several other institutional investors have also made changes to their positions in the business. Brighton Jones LLC boosted its holdings in Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after buying an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $327,000. Schnieders Capital Management LLC. lifted its position in shares of Norfolk Southern by 64.1% during 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 lifted its position in shares of Norfolk Southern by 185.1% during 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 period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Up 1.9%

NYSE NSC opened at $340.90 on Tuesday. The firm has a market cap of $76.57 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 5.92 and a beta of 1.27. Norfolk Southern Corporation has a one year low of $268.23 and a one year high of $358.60. The stock’s 50 day simple moving average is $325.50 and its 200 day simple moving average is $311.88. 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 (NYSE:NSC) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the firm posted $3.29 EPS. The business’s revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts forecast that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.6%. Norfolk Southern’s dividend payout ratio (DPR) is 46.08%.

Analyst Ratings Changes

A number of brokerages have weighed in on NSC. Rothschild & Co Redburn upped their price target on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Citigroup lifted their price objective on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a report on Friday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. BMO Capital Markets upped 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. Finally, Susquehanna increased their target price on shares of Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, Norfolk Southern presently has an average 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.