CM Wealth Advisors LLC Buys New Position in Norfolk Southern Corporation $NSC

CM Wealth Advisors LLC bought a new stake in Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,834 shares of the railroad operator’s stock, valued at approximately $892,000.

Other hedge funds also recently made changes to their positions in the company. Confluence Wealth Services Inc. increased its stake in Norfolk Southern by 1.1% in the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock valued at $892,000 after buying an additional 35 shares during the last quarter. Exencial Wealth Advisors LLC raised its stake in Norfolk Southern by 1.1% in the 4th quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock valued at $929,000 after acquiring an additional 35 shares during the period. Sovereign Financial Group Inc. raised its position in shares of Norfolk Southern by 3.3% in the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock valued at $318,000 after purchasing an additional 35 shares during the period. Bar Harbor Wealth Management raised its holdings in Norfolk Southern by 0.6% in 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 period. Finally, Apollon Financial LLC lifted its holdings in Norfolk Southern by 4.3% during the 1st quarter. Apollon Financial LLC now owns 881 shares of the railroad operator’s stock worth $253,000 after purchasing an additional 36 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NSC shares. Weiss Ratings upgraded shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Rothschild & Co Redburn boosted their price target on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Stephens raised shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. increased their price objective 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. Finally, Royal Bank Of Canada lifted their price target on Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Seven 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Trading Up 2.0%

NSC opened at $345.56 on Thursday. The company has a fifty day moving average of $326.76 and a 200-day moving average of $312.66. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month 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. The stock has a market cap of $77.62 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 6.00 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last released its earnings results 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. 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 previous year, the company earned $3.29 EPS. Norfolk Southern’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts predict that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis 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 presently 46.08%.

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.