Perigon Wealth Management LLC Invests $3.72 Million in Norfolk Southern Corporation $NSC

Perigon Wealth Management LLC purchased a new stake in Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 11,830 shares of the railroad operator’s stock, valued at approximately $3,721,000.

Other large investors have also modified their holdings of the company. Confluence Wealth Services Inc. increased its holdings in shares of Norfolk Southern by 1.1% during the fourth quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock valued at $892,000 after acquiring an additional 35 shares in the last quarter. Exencial Wealth Advisors LLC boosted its stake in Norfolk Southern by 1.1% in the 4th quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock worth $929,000 after purchasing an additional 35 shares in the last quarter. Sovereign Financial Group Inc. increased its stake in Norfolk Southern by 3.3% during the 1st quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock valued at $318,000 after purchasing an additional 35 shares in the last quarter. Bar Harbor Wealth Management grew its holdings in shares of Norfolk Southern by 0.6% during the first quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator’s stock valued at $1,805,000 after buying an additional 36 shares during the last quarter. Finally, Apollon Financial LLC lifted its stake in 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. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on NSC shares. BMO Capital Markets increased their price objective on shares of Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Royal Bank Of Canada increased their price target on Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. UBS Group restated a “neutral” rating and issued a $363.00 target price on shares of Norfolk Southern in a research note on Friday, July 24th. Susquehanna lifted their price target on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Finally, Stephens upgraded 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $340.90 on Tuesday. The firm has a market cap of $76.57 billion, a PE ratio of 29.09, a P/E/G ratio of 5.92 and a beta of 1.27. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month 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 business has a 50-day moving average price of $325.50 and a 200 day moving average price of $311.88.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate of $3.32 by $0.20. The company 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 quarterly revenue 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. Sell-side analysts predict that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

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 dividend of $1.35 per share. The ex-dividend date is 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%.

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.