Norfolk Southern Corporation $NSC Shares Acquired by Empowered Funds LLC

Empowered Funds LLC grew its stake in Norfolk Southern Corporation (NYSE:NSC) by 91.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,230 shares of the railroad operator’s stock after buying an additional 12,071 shares during the period. Empowered Funds LLC’s holdings in Norfolk Southern were worth $7,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC lifted its position in Norfolk Southern by 4.9% during 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 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 valued at $1,527,000 after purchasing an additional 1,855 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Norfolk Southern in the second quarter valued at about $327,000. Schnieders Capital Management LLC. raised its stake 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 purchasing an additional 1,670 shares during the last quarter. Finally, Jump Financial LLC raised its stake in shares of Norfolk Southern by 185.1% in the second 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 and hedge funds.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $335.89 on Friday. Norfolk Southern Corporation has a 52-week low of $268.23 and a 52-week high of $358.60. 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 has a market cap of $75.45 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 5.94 and a beta of 1.27. The business has a 50-day simple moving average of $319.64 and a 200-day simple moving average of $307.90.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping the consensus estimate of $3.32 by $0.20. The firm had revenue of $3.46 billion for 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%.Norfolk Southern’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $3.29 earnings per share. On average, equities analysts expect that Norfolk Southern Corporation will post 12.6 EPS for the current year.

Norfolk Southern Announces Dividend

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

Analyst Upgrades and Downgrades

NSC has been the subject of a number of research reports. Royal Bank Of Canada lifted their target price on Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Evercore set a $358.00 price target on shares of Norfolk Southern in a research report on Thursday, July 23rd. Wells Fargo & Company lifted their price objective on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. UBS Group reaffirmed a “neutral” rating and issued a $363.00 price objective on shares of Norfolk Southern in a report on Friday, July 24th. Finally, TD Cowen increased their price objective on shares of Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern currently has an average rating of “Hold” and an average target price of $348.00.

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.