Empowered Funds LLC Takes Position in Norfolk Southern Corporation $NSC

Empowered Funds LLC acquired a new position in Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,375 shares of the railroad operator’s stock, valued at approximately $5,466,000.

A number of other institutional investors have also recently made changes to their positions in the business. United Capital Financial Advisors LLC purchased a new position in Norfolk Southern during the 2nd quarter worth $3,286,000. Dearborn Partners LLC acquired a new position in Norfolk Southern during the 2nd quarter valued at about $972,000. Yukon Wealth Management Inc. purchased a new stake in Norfolk Southern in the second quarter valued at about $2,471,000. Brooks Moore & Associates Inc. purchased a new stake in Norfolk Southern in the second quarter valued at about $1,913,000. Finally, Hayek Kallen Investment Management acquired a new stake in Norfolk Southern in the second quarter worth about $1,013,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC opened at $343.21 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. The stock has a 50-day moving average of $333.67 and a two-hundred day moving average of $315.27. The stock has a market cap of $77.09 billion, a P/E ratio of 29.28, a P/E/G ratio of 5.23 and a beta of 1.27. Norfolk Southern Corporation has a one year low of $268.23 and a one year high of $358.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the company earned $3.29 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. As a group, research analysts predict that Norfolk Southern Corporation will post 12.74 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were given a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. Norfolk Southern’s dividend payout ratio is currently 46.08%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Stephens upgraded Norfolk Southern to a “hold” rating in a research note on Wednesday, July 8th. Evercore set a $358.00 price objective on shares of Norfolk Southern in a research report on Thursday, July 23rd. Weiss Ratings upgraded shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. TD Cowen boosted their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Susquehanna upped their price target on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Norfolk Southern currently has a consensus rating of “Hold” and an average price target of $348.00.

Norfolk Southern 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.