Ieq Capital LLC Invests $6.25 Million in Norfolk Southern Corporation $NSC

Ieq Capital LLC acquired a new position in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 19,867 shares of the railroad operator’s stock, valued at approximately $6,250,000.

Several other large investors also recently added to or reduced their stakes in NSC. Exencial Wealth Advisors LLC grew its position in Norfolk Southern by 1.1% during the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock worth $929,000 after buying an additional 35 shares in the last quarter. Sovereign Financial Group Inc. raised its holdings in shares of Norfolk Southern by 3.3% in the 1st quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock valued at $318,000 after acquiring an additional 35 shares in the last quarter. Bar Harbor Wealth Management boosted its position in shares of Norfolk Southern by 0.6% during the 1st quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator’s stock valued at $1,805,000 after acquiring an additional 36 shares during the last quarter. Apollon Financial LLC grew its holdings 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. Finally, Moss Adams Wealth Advisors LLC grew its holdings in shares of Norfolk Southern by 4.6% during the first quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator’s stock worth $237,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $350.77 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The stock has a market cap of $78.79 billion, a PE ratio of 29.93, a PEG ratio of 6.21 and a beta of 1.27. The company’s fifty day moving average is $328.23 and its 200 day moving average is $313.47. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm earned $3.29 earnings per share. Research analysts anticipate that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NSC shares. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. boosted their price target on shares of Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Susquehanna boosted their price target on shares of Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. BMO Capital Markets increased their price target 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, TD Cowen raised their price objective on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.