Ieq Capital LLC Purchases New Holdings in Norfolk Southern Corporation $NSC

Ieq Capital LLC acquired a new stake in Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 19,867 shares of the railroad operator’s stock, valued at approximately $6,250,000.

Several other large investors also recently modified their holdings of NSC. JPL Wealth Management LLC bought a new position in shares of Norfolk Southern in the 3rd quarter valued at $25,000. Edmond DE Rothschild Holding S.A. bought a new position in Norfolk Southern in the second quarter valued at about $26,000. BNP Paribas bought a new position in shares of Norfolk Southern in the second quarter worth about $26,000. Meeder Asset Management Inc. acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at approximately $27,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Norfolk Southern during the 2nd quarter valued at approximately $31,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NSC shares. UBS Group reiterated a “neutral” rating and set a $363.00 price target on shares of Norfolk Southern in a report on Friday, July 24th. Barclays increased their price objective on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Robert W. Baird raised their target price on Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. 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. Finally, Royal Bank Of Canada increased their target price on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $350.77 on Monday. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60. The stock has a fifty day simple moving average of $328.23 and a two-hundred day simple moving average of $313.47. The firm has a market cap of $78.79 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 6.21 and a beta of 1.27. 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 (NYSE:NSC) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business earned $3.29 earnings per share. Analysts anticipate that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio is presently 46.08%.

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.