Tenzing Financial LLC Invests $572,000 in Norfolk Southern Corporation $NSC

Tenzing Financial LLC bought a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,778 shares of the railroad operator’s stock, valued at approximately $572,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NSC. Brighton Jones LLC raised its holdings in Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after purchasing an additional 79 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Norfolk Southern by 40.4% during the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after purchasing an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Norfolk Southern during the second quarter valued at about $327,000. Schnieders Capital Management LLC. increased its position in shares of Norfolk Southern by 64.1% during the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock valued at $1,094,000 after buying an additional 1,670 shares during the period. Finally, Jump Financial LLC raised its stake in Norfolk Southern by 185.1% in the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after buying an additional 2,979 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC opened at $334.86 on Monday. The stock has a market cap of $75.21 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 5.95 and a beta of 1.27. 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 Corporation has a fifty-two week low of $268.23 and a fifty-two week high of $358.60. The firm’s 50-day simple moving average is $322.11 and its two-hundred day simple moving average is $309.80.

Norfolk Southern (NYSE:NSC) last released 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 firm had revenue of $3.46 billion during the quarter, compared to analyst estimates 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 last year, the business earned $3.29 earnings per share. Analysts anticipate that Norfolk Southern Corporation will post 12.6 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern’s payout ratio is 46.08%.

Wall Street Analyst Weigh In

Several brokerages have commented on NSC. Wells Fargo & Company raised their price objective on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. UBS Group reissued a “neutral” rating and issued a $363.00 target price on shares of Norfolk Southern in a research report on Friday, July 24th. JPMorgan Chase & Co. raised their target price on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Barclays lifted their price target on Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Finally, Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.