2,074 Shares in Norfolk Southern Corporation $NSC Purchased by Kaydan Wealth Management Inc.

Kaydan Wealth Management Inc. acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,074 shares of the railroad operator’s stock, valued at approximately $641,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NSC. Sovereign Financial Group Inc. grew its position in Norfolk Southern by 3.3% during the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock worth $318,000 after buying an additional 35 shares during the period. Bar Harbor Wealth Management lifted its position in shares of Norfolk Southern by 0.6% during the 1st quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator’s stock valued at $1,805,000 after acquiring an additional 36 shares during the period. Apollon Financial LLC lifted its position in shares of Norfolk Southern by 4.3% during the 1st quarter. Apollon Financial LLC now owns 881 shares of the railroad operator’s stock valued at $253,000 after acquiring an additional 36 shares during the period. Moss Adams Wealth Advisors LLC boosted its stake in shares of Norfolk Southern by 4.6% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator’s stock worth $237,000 after acquiring an additional 36 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC grew its holdings in shares of Norfolk Southern by 4.4% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 952 shares of the railroad operator’s stock worth $273,000 after acquiring an additional 40 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Shares of NSC stock traded up $1.89 on Thursday, reaching $315.09. The stock had a trading volume of 114,942 shares, compared to its average volume of 1,195,836. The company has a 50 day simple moving average of $329.46 and a 200 day simple moving average of $317.55. The stock has a market cap of $70.77 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 4.74 and a beta of 1.29. Norfolk Southern Corporation has a 1 year low of $277.80 and a 1 year high of $358.60. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping 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 firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the previous year, the business earned $3.29 EPS. The company’s quarterly revenue was up 12.5% on a year-over-year basis. Equities research analysts expect that Norfolk Southern Corporation will post 12.75 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NSC shares. BMO Capital Markets raised their price objective on Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Barclays boosted their target price on Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. dropped their price target on Norfolk Southern from $338.00 to $318.00 and set a “neutral” rating for the company in a research report on Monday. Royal Bank Of Canada cut their price target on Norfolk Southern from $360.00 to $330.00 and set a “sector perform” rating for the company in a research note on Thursday, September 24th. Finally, Robert W. Baird boosted their price objective on shares of Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $346.94.

Norfolk Southern Company Profile

Norfolk Southern Corporation (NYSE: NSC) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its principal subsidiary, Norfolk Southern Railway, the company provides freight rail transportation and related services for industrial, agricultural and consumer markets.

Norfolk Southern’s network serves 22 states and the District of Columbia, connecting major ports, manufacturing centers and distribution hubs across the East Coast and the Midwest.