Corient Private Wealth LP Buys New Stake in Norfolk Southern Corporation $NSC

Corient Private Wealth LP purchased a new stake in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to its most recent filing with the SEC. The fund purchased 90,960 shares of the railroad operator’s stock, valued at approximately $28,615,000.

Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its position in shares of Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Norfolk Southern by 40.4% in the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Norfolk Southern in the second quarter worth about $327,000. Schnieders Capital Management LLC. lifted its position in shares of Norfolk Southern by 64.1% in the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after buying an additional 1,670 shares in the last quarter. Finally, Jump Financial LLC boosted its stake in Norfolk Southern by 185.1% during the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock valued at $1,174,000 after buying an additional 2,979 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Down 1.5%

NSC opened at $347.32 on Friday. The stock has a 50-day moving average of $331.90 and a 200 day moving average of $314.78. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The firm has a market cap of $78.01 billion, a P/E ratio of 29.63, a P/E/G ratio of 5.29 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last issued 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. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.29 earnings per share. As a group, research analysts forecast that Norfolk Southern Corporation will post 12.74 EPS for the current year.

Norfolk Southern Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. TD Cowen raised their price target on Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a report on Friday, July 24th. Susquehanna increased their target price on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, UBS Group reaffirmed a “neutral” rating and set a $363.00 price target on shares of Norfolk Southern in a research note on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.