Norfolk Southern Corporation $NSC Stock: Wedmont Private Capital Boosts Holdings

Wedmont Private Capital grew its stake in Norfolk Southern Corporation (NYSE:NSC) by 93.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,296 shares of the railroad operator’s stock after acquiring an additional 4,017 shares during the period. Wedmont Private Capital’s holdings in Norfolk Southern were worth $2,630,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. LifeGoal Investments LLC raised its stake in shares of Norfolk Southern by 38.7% during the 3rd quarter. LifeGoal Investments LLC now owns 1,320 shares of the railroad operator’s stock worth $408,000 after purchasing an additional 368 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Norfolk Southern by 8.3% in the third quarter. GAMMA Investing LLC now owns 7,718 shares of the railroad operator’s stock valued at $2,385,000 after buying an additional 594 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Norfolk Southern by 13.2% during the third quarter. Farther Finance Advisors LLC now owns 18,765 shares of the railroad operator’s stock worth $5,798,000 after buying an additional 2,185 shares during the last quarter. CoreCap Advisors LLC increased its holdings in Norfolk Southern by 13.1% during the third quarter. CoreCap Advisors LLC now owns 3,119 shares of the railroad operator’s stock worth $964,000 after buying an additional 361 shares during the last quarter. Finally, Apella Capital LLC lifted its stake in Norfolk Southern by 18.0% in the third quarter. Apella Capital LLC now owns 2,437 shares of the railroad operator’s stock valued at $763,000 after acquiring an additional 372 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $317.69 on Friday. The company has a market capitalization of $71.36 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 4.75 and a beta of 1.29. 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 company has a 50-day simple moving average of $328.76 and a 200 day simple moving average of $317.79. Norfolk Southern Corporation has a 52 week low of $277.80 and a 52 week high of $358.60.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.29 EPS. On average, sell-side analysts predict that Norfolk Southern Corporation will post 12.74 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. Investors of record on Friday, August 7th were paid a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern’s payout ratio is 46.08%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NSC. BMO Capital Markets boosted 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. Citigroup reiterated a “cautious” rating on shares of Norfolk Southern in a report on Wednesday. TD Cowen boosted their price target on Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Weiss Ratings lowered Norfolk Southern from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. Finally, Barclays lifted their target price on Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $346.94.

About Norfolk Southern

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.