2,074 Shares of Norfolk Southern Corporation $NSC Bought by Kaydan Wealth Management Inc.

Kaydan Wealth Management Inc. purchased a new stake in Norfolk Southern Corporation (NYSE:NSC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,074 shares of the railroad operator’s stock, valued at approximately $641,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in Norfolk Southern during the second quarter worth $5,033,549,000. Bank of America Corp DE acquired a new stake in Norfolk Southern during the 2nd quarter valued at $978,977,000. Dimensional Fund Advisors LP lifted its holdings in Norfolk Southern by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,259,558 shares of the railroad operator’s stock valued at $648,429,000 after purchasing an additional 46,127 shares in the last quarter. Amundi boosted its position in Norfolk Southern by 24.2% during the first quarter. Amundi now owns 2,226,885 shares of the railroad operator’s stock worth $639,116,000 after acquiring an additional 434,074 shares during the last quarter. Finally, London Co. of Virginia boosted its holdings in shares of Norfolk Southern by 0.3% during the fourth quarter. London Co. of Virginia now owns 1,810,853 shares of the railroad operator’s stock worth $522,838,000 after purchasing an additional 5,729 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.6%

Norfolk Southern stock traded up $1.89 during mid-day trading on Thursday, reaching $315.09. 114,942 shares of the company were exchanged, compared to its average volume of 1,195,836. The firm has a market cap of $70.77 billion, a P/E ratio of 26.89, a PEG ratio of 4.74 and a beta of 1.29. Norfolk Southern Corporation has a 12-month low of $277.80 and a 12-month high of $358.60. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. The business has a fifty day moving average of $329.46 and a 200 day moving average of $317.55.

Norfolk Southern (NYSE:NSC) last announced its 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. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.29 EPS. Research analysts anticipate that Norfolk Southern Corporation will post 12.75 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s payout ratio is 46.08%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NSC shares. TD Cowen boosted 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. Wells Fargo & Company lifted their price objective on Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Royal Bank Of Canada dropped their target price on shares of Norfolk Southern from $360.00 to $330.00 and set a “sector perform” rating for the company in a research report on Thursday, September 24th. UBS Group reissued a “neutral” rating and issued a $363.00 target price on shares of Norfolk Southern in a research note on Friday, July 24th. Finally, Robert W. Baird raised their target price on Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $346.94.

Norfolk Southern Profile

Norfolk Southern Corporation (NYSE: NSC) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its principal subsidiary, Norfolk Southern Railway, the company provides freight rail transportation and related services for industrial, agricultural and consumer markets.

Norfolk Southern’s network serves 22 states and the District of Columbia, connecting major ports, manufacturing centers and distribution hubs across the East Coast and the Midwest.