Coastal Bridge Advisors LLC Makes New $588,000 Investment in Norfolk Southern Corporation $NSC

Coastal Bridge Advisors LLC bought a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,869 shares of the railroad operator’s stock, valued at approximately $588,000.

A number of other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after buying an additional 79 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Norfolk Southern by 40.4% in the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after buying an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Norfolk Southern during the second quarter worth about $327,000. Schnieders Capital Management LLC. boosted its position in Norfolk Southern by 64.1% during the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after acquiring an additional 1,670 shares during the last quarter. Finally, Jump Financial LLC grew its stake in Norfolk Southern by 185.1% during the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock valued at $1,174,000 after acquiring an additional 2,979 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NSC stock opened at $348.67 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The company has a market capitalization of $78.31 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 5.22 and a beta of 1.27. The firm’s 50-day moving average is $332.87 and its two-hundred day moving average is $315.01. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.20. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.29 EPS. Analysts predict that Norfolk Southern Corporation will post 12.74 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were given a $1.35 dividend. 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 is presently 46.08%.

Analyst Ratings Changes

A number of research firms have weighed in on NSC. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research note on Friday, July 24th. Citigroup upped their price target on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Stephens raised Norfolk Southern to a “hold” rating in a report on Wednesday, July 8th. UBS Group reiterated a “neutral” rating and set a $363.00 price objective on shares of Norfolk Southern in a research report on Friday, July 24th. Finally, Wells Fargo & Company boosted their price objective on Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, Norfolk Southern has an average rating of “Hold” and an average target price of $348.00.

Norfolk Southern 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.