Norfolk Southern Corporation $NSC Shares Acquired by Mission Wealth Management LP

Mission Wealth Management LP boosted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 26.2% in the 2nd quarter, Holdings Channel reports. The firm owned 4,849 shares of the railroad operator’s stock after buying an additional 1,008 shares during the period. Mission Wealth Management LP’s holdings in Norfolk Southern were worth $1,241,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. WPG Advisers LLC acquired a new stake in shares of Norfolk Southern during the 1st quarter valued at $27,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Norfolk Southern during the first quarter valued at $41,000. Golden State Wealth Management LLC lifted its holdings in shares of Norfolk Southern by 883.3% during the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock valued at $42,000 after purchasing an additional 159 shares during the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of Norfolk Southern by 30.5% during the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock valued at $47,000 after purchasing an additional 43 shares during the last quarter. Finally, Chung Wu Investment Group LLC purchased a new stake in shares of Norfolk Southern during the second quarter valued at $51,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on NSC. JPMorgan Chase & Co. upped their price objective on shares of Norfolk Southern from $288.00 to $303.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. UBS Group reduced their price target on shares of Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a research report on Friday, October 24th. BMO Capital Markets upped their price target on shares of Norfolk Southern from $285.00 to $305.00 and gave the company a “market perform” rating in a research report on Friday, October 24th. Weiss Ratings lowered Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Susquehanna increased their target price on Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. Seven research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $299.70.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $282.46 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $302.24. The business has a fifty day simple moving average of $285.65 and a 200 day simple moving average of $265.86. The firm has a market cap of $63.38 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 2.52 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.31 by ($0.01). Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the prior year, the business posted $3.25 earnings per share. Norfolk Southern’s revenue was up .0% on a year-over-year basis. As a group, sell-side analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, November 7th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, November 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 41.19%.

Insiders Place Their Bets

In other Norfolk Southern news, Director Richard H. Anderson acquired 2,600 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The shares were purchased at an average price of $281.86 per share, with a total value of $732,836.00. Following the completion of the transaction, the director owned 7,000 shares in the company, valued at $1,973,020. The trade was a 59.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.