UNIVEST FINANCIAL Corp Invests $1.46 Million in Norfolk Southern Corporation $NSC

UNIVEST FINANCIAL Corp acquired a new position in Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,633 shares of the railroad operator’s stock, valued at approximately $1,457,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NSC. JPL Wealth Management LLC purchased a new position in Norfolk Southern in the 3rd quarter worth approximately $25,000. BNP Paribas bought a new position in shares of Norfolk Southern in the 2nd quarter worth $26,000. Meeder Asset Management Inc. raised its position in shares of Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after buying an additional 67 shares in the last quarter. Financial Life Planners bought a new stake in shares of Norfolk Southern during the 1st quarter worth $33,000. Finally, Bayban bought a new stake in shares of Norfolk Southern during the 4th quarter worth $34,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NSC has been the topic of a number of research analyst reports. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Rothschild & Co Redburn increased their price objective on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. BMO Capital Markets raised their price objective on Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Wells Fargo & Company boosted their target price on Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $363.00 target price on shares of Norfolk Southern 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $348.00.

Norfolk Southern Stock Performance

NYSE NSC opened at $340.90 on Tuesday. The company has a 50-day simple moving average of $325.50 and a two-hundred day simple moving average of $311.88. Norfolk Southern Corporation has a 12-month low of $268.23 and a 12-month high of $358.60. The firm has a market cap of $76.57 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 5.92 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.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $3.38 billion. During the same quarter in the previous year, the business earned $3.29 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. On average, equities analysts forecast that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Announces Dividend

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