United Capital Financial Advisors LLC Acquires New Holdings in Norfolk Southern Corporation $NSC

United Capital Financial Advisors LLC bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,444 shares of the railroad operator’s stock, valued at approximately $3,286,000.

Several other large investors have also recently bought and sold shares of NSC. BlackRock Inc. bought a new position in shares of Norfolk Southern in the second quarter worth $5,033,549,000. State Street Corp boosted its stake in Norfolk Southern by 4.1% during the fourth quarter. State Street Corp now owns 9,710,549 shares of the railroad operator’s stock valued at $2,803,630,000 after buying an additional 379,819 shares during the period. Geode Capital Management LLC grew its position in Norfolk Southern by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock worth $1,401,797,000 after buying an additional 36,205 shares in the last quarter. Norges Bank purchased a new position in Norfolk Southern during the fourth quarter worth about $1,084,701,000. Finally, Bank of America Corp DE bought a new position in Norfolk Southern in the 2nd quarter worth about $978,977,000. 75.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NSC shares. Stephens upgraded Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. TD Cowen raised their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Robert W. Baird boosted their price target on shares of Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Barclays increased their price target on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $348.00.

Norfolk Southern Trading Up 0.2%

NSC stock opened at $348.67 on Friday. 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. Norfolk Southern Corporation has a one year low of $268.23 and a one year high of $358.60. The company’s 50 day moving average price is $332.87 and its two-hundred day moving average price is $315.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83.

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. 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 analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the company earned $3.29 EPS. The firm’s revenue was up 12.5% on a year-over-year basis. As a group, analysts predict that Norfolk Southern Corporation will post 12.74 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.5%. Norfolk Southern’s payout ratio is currently 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.