NewEdge Advisors LLC Grows Stock Position in Norfolk Southern Corporation $NSC

NewEdge Advisors LLC boosted its holdings in Norfolk Southern Corporation (NYSE:NSC) by 17.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,598 shares of the railroad operator’s stock after acquiring an additional 5,233 shares during the period. NewEdge Advisors LLC’s holdings in Norfolk Southern were worth $11,199,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at $26,000. JPL Wealth Management LLC purchased a new stake in Norfolk Southern in the 3rd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in Norfolk Southern in the second quarter valued at about $27,000. Comprehensive Financial Planning Inc. PA acquired a new position in Norfolk Southern in the second quarter valued at about $31,000. Finally, Kimelman & Baird LLC purchased a new position in Norfolk Southern during the second quarter worth about $31,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Stephens raised Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. upped their price target on Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research note on Friday, July 24th. Finally, Citigroup boosted their price objective on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $320.78 on Friday. The stock’s 50-day moving average is $336.01 and its two-hundred day moving average is $315.99. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. Norfolk Southern Corporation has a 1-year low of $273.76 and a 1-year high of $358.60. The company has a market cap of $72.05 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 4.80 and a beta of 1.27.

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 the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the business posted $3.29 EPS. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. Analysts forecast that Norfolk Southern Corporation will post 12.87 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major freight railroad company serving the eastern United States. Through its railway network, the company transports raw materials, intermediate goods and finished products for industrial, agricultural, manufacturing and consumer markets. Its operations connect customers with domestic markets, major ports and other rail carriers.

The company transports a diverse range of commodities, including intermodal containers, coal, automotive products, agriculture and consumer goods, chemicals, metals, forest products and construction materials.