Langley Wealth Management LLC Acquires New Shares in Norfolk Southern Corporation $NSC

Langley Wealth Management LLC acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC) in the second quarter, HoldingsChannel.com reports. The firm acquired 2,185 shares of the railroad operator’s stock, valued at approximately $54,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in shares of Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after acquiring an additional 79 shares during the period. Intech Investment Management LLC lifted its position in Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Norfolk Southern during the 2nd quarter valued at about $327,000. Schnieders Capital Management LLC. boosted its stake in Norfolk Southern by 64.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock valued at $1,094,000 after purchasing an additional 1,670 shares during the period. Finally, Jump Financial LLC grew its position in Norfolk Southern by 185.1% in the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after purchasing an additional 2,979 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NSC has been the topic of several analyst reports. Royal Bank Of Canada raised their price target on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Barclays boosted their price objective on Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Wells Fargo & Company raised their target price on Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Finally, Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research note on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $348.00.

Norfolk Southern Price Performance

NYSE NSC opened at $334.69 on Friday. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The business’s fifty day moving average is $324.87 and its two-hundred day moving average is $311.36. The stock has a market capitalization of $75.17 billion, a P/E ratio of 28.56, a P/E/G ratio of 5.92 and a beta of 1.27. 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 released its quarterly earnings data 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 business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company posted $3.29 EPS. On average, research analysts forecast that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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

About Norfolk Southern

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.