Northcape Wealth Management LLC Takes $955,000 Position in Norfolk Southern Corporation $NSC

Northcape Wealth Management LLC acquired a new position in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,037 shares of the railroad operator’s stock, valued at approximately $955,000.

Several other large investors have also recently modified their holdings of the company. Confluence Wealth Services Inc. lifted its position in Norfolk Southern by 1.1% during the fourth quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock valued at $892,000 after acquiring an additional 35 shares during the last quarter. Exencial Wealth Advisors LLC grew its holdings in Norfolk Southern by 1.1% in the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock worth $929,000 after purchasing an additional 35 shares during the last quarter. Sovereign Financial Group Inc. grew its holdings in Norfolk Southern by 3.3% in the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock worth $318,000 after purchasing an additional 35 shares during the last quarter. Bar Harbor Wealth Management increased its position in shares of Norfolk Southern by 0.6% during the first quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator’s stock worth $1,805,000 after purchasing an additional 36 shares in the last quarter. Finally, Apollon Financial LLC increased its position in shares of Norfolk Southern by 4.3% during the first quarter. Apollon Financial LLC now owns 881 shares of the railroad operator’s stock worth $253,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on NSC shares. Evercore set a $358.00 price objective on Norfolk Southern in a research report on Thursday, July 23rd. Citigroup upped their target price on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Wells Fargo & Company increased their price target on Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. raised their price target on Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, BMO Capital Markets boosted their price target on Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $345.56 on Thursday. The business’s 50 day moving average price is $326.76 and its 200 day moving average price is $312.66. The firm has a market cap of $77.62 billion, a P/E ratio of 29.48, a P/E/G ratio of 6.00 and a beta of 1.27. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60. 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 issued its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping 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 quarter in the prior year, the company earned $3.29 EPS. Norfolk Southern’s quarterly revenue was up 12.5% on a year-over-year basis. On average, sell-side analysts expect that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.08%.

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.