EJMK Ventures LLC Acquires Shares of 1,569 Norfolk Southern Corporation $NSC

EJMK Ventures LLC acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,569 shares of the railroad operator’s stock, valued at approximately $494,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. JPL Wealth Management LLC bought a new position in Norfolk Southern in the 3rd quarter valued at about $25,000. BNP Paribas acquired a new position in Norfolk Southern during the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. increased its holdings in Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 67 shares in the last quarter. Financial Life Planners bought a new stake in Norfolk Southern during the 1st quarter worth approximately $33,000. Finally, Bayban purchased a new stake in shares of Norfolk Southern in the fourth quarter worth approximately $34,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $334.69 on Friday. The company has a market capitalization of $75.17 billion, a PE ratio of 28.56, a PEG ratio of 5.92 and a beta of 1.27. 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’s 50 day moving average price is $324.87 and its 200-day moving average price is $311.36. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the business posted $3.29 earnings per share. Norfolk Southern’s revenue was up 12.5% on a year-over-year basis. On average, equities analysts anticipate that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 7th. Norfolk Southern’s payout ratio is presently 46.08%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NSC shares. Royal Bank Of Canada raised their target price on Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a report on Friday, July 24th. BMO Capital Markets increased their price target on Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Robert W. Baird raised 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. Susquehanna lifted their price objective on shares of Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Finally, Barclays upped their target price on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.