Northwestern Mutual Wealth Management Co. Buys New Holdings in Norfolk Southern Corporation $NSC

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 22,369 shares of the railroad operator’s stock, valued at approximately $7,037,000.

Several other hedge funds have also recently modified their holdings of NSC. Brighton Jones LLC increased its position in Norfolk Southern by 4.9% in 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 last quarter. Intech Investment Management LLC lifted its position in Norfolk Southern by 40.4% during the first 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 purchased a new position in shares of Norfolk Southern in the 2nd quarter worth $327,000. Schnieders Capital Management LLC. grew its stake in shares of 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 in the last quarter. Finally, Jump Financial LLC increased its holdings 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.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $350.77 on Monday. Norfolk Southern Corporation has a 12-month low of $268.23 and a 12-month high of $358.60. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $328.23 and a 200-day moving average price of $313.47. The firm 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.

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

Norfolk Southern Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NSC shares. BMO Capital Markets upped their target price on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Susquehanna upped their price objective on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Barclays raised their price objective on Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Finally, TD Cowen lifted their target price on Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of “Hold” and a consensus price target 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.