4,120 Shares in Norfolk Southern Corporation $NSC Purchased by Stonebridge Capital Management Inc.

Stonebridge Capital Management Inc. acquired a new stake in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,120 shares of the railroad operator’s stock, valued at approximately $1,296,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Exencial Wealth Advisors LLC increased its stake in shares of Norfolk Southern by 1.1% during the 4th 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 in the last quarter. Sovereign Financial Group Inc. grew its holdings in Norfolk Southern by 3.3% during the 1st quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock valued at $318,000 after buying an additional 35 shares during the last quarter. Bar Harbor Wealth Management grew its holdings in 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 buying an additional 36 shares during the last quarter. Apollon Financial LLC increased its position in 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 buying an additional 36 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC raised its holdings in shares of Norfolk Southern by 4.6% in the first quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator’s stock worth $237,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.4%

Shares of Norfolk Southern stock opened at $352.60 on Thursday. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60. The stock has a market cap of $79.20 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 6.18 and a beta of 1.27. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The company has a fifty day moving average price of $330.95 and a 200 day moving average price of $314.49.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the company earned $3.29 earnings per share. Norfolk Southern’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts forecast that Norfolk Southern Corporation will post 12.74 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on NSC. Robert W. Baird increased their price objective on Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. TD Cowen upped their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a report on Friday, July 24th. Stephens upgraded shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Susquehanna boosted their price target on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, Norfolk Southern currently has a consensus rating of “Hold” and a consensus target price of $348.00.

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.