Kingsview Wealth Management LLC Takes Position in Norfolk Southern Corporation $NSC

Kingsview Wealth Management LLC acquired a new stake in Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 8,428 shares of the railroad operator’s stock, valued at approximately $2,651,000.

A number of other hedge funds have also modified their holdings of the business. Louisiana State Employees Retirement System acquired a new position in Norfolk Southern in the 1st quarter valued at about $3,272,000. O Shaughnessy Asset Management LLC raised its stake in Norfolk Southern by 9.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock valued at $12,533,000 after acquiring an additional 3,887 shares during the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new stake in Norfolk Southern during the 2nd quarter worth approximately $3,669,000. SCS Capital Management LLC acquired a new stake in Norfolk Southern during the 2nd quarter worth approximately $13,837,000. Finally, Focus Partners Advisor Solutions LLC purchased a new position in shares of Norfolk Southern in the 2nd quarter valued at approximately $1,376,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Shares of NSC opened at $348.67 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The stock’s 50 day moving average is $332.87 and its two-hundred day moving average is $315.01. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60. The firm has a market capitalization of $78.31 billion, a PE ratio of 29.75, a P/E/G ratio of 5.23 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. The business had revenue of $3.46 billion during 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 revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.29 EPS. Research analysts anticipate that Norfolk Southern Corporation will post 12.74 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio is currently 46.08%.

Analysts Set New Price Targets

NSC has been the topic of a number of recent research reports. Susquehanna boosted their target price on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Citigroup increased their price target on Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. TD Cowen lifted their price objective on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Evercore set a $358.00 price objective on shares of Norfolk Southern in a research note on Thursday, July 23rd. Finally, Stephens upgraded shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.