Kingsview Wealth Management LLC Makes New Investment in Norfolk Southern Corporation $NSC

Kingsview Wealth Management LLC purchased a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,428 shares of the railroad operator’s stock, valued at approximately $2,651,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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 worth $318,000 after buying an additional 35 shares during the period. Bar Harbor Wealth Management boosted its position in Norfolk Southern by 0.6% in the 1st 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 period. Apollon Financial LLC boosted its position in Norfolk Southern by 4.3% in the 1st quarter. Apollon Financial LLC now owns 881 shares of the railroad operator’s stock valued at $253,000 after buying an additional 36 shares during the period. Moss Adams Wealth Advisors LLC grew its stake in shares of Norfolk Southern by 4.6% in the first 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, CYBER HORNET ETFs LLC increased its position in shares of Norfolk Southern by 6.0% during the fourth quarter. CYBER HORNET ETFs LLC now owns 649 shares of the railroad operator’s stock worth $187,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on NSC shares. JPMorgan Chase & Co. increased their price objective on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Stephens raised Norfolk Southern to a “hold” rating in a research note on Wednesday, July 8th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Robert W. Baird increased their price target on Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Evercore set a $358.00 price objective on Norfolk Southern in a research note on Thursday, July 23rd. Seven equities research 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, the stock presently has a consensus rating of “Hold” and an average price target of $348.00.

Norfolk Southern Stock Up 0.2%

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

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, beating the consensus estimate of $3.32 by $0.20. The business had revenue of $3.46 billion during 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 company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.29 EPS. Research analysts expect that Norfolk Southern Corporation will post 12.74 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.5%. Norfolk Southern’s dividend payout ratio (DPR) is presently 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.