Mystic Asset Management Inc. Makes New Investment in Norfolk Southern Corporation $NSC

Mystic Asset Management Inc. purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,040 shares of the railroad operator’s stock, valued at approximately $642,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPL Wealth Management LLC bought a new position in shares of Norfolk Southern in the third quarter worth about $25,000. Edmond DE Rothschild Holding S.A. bought a new stake in Norfolk Southern during the 2nd quarter valued at approximately $26,000. BNP Paribas acquired a new stake in Norfolk Southern in the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new stake in Norfolk Southern in the 2nd quarter valued at approximately $27,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Norfolk Southern in the 2nd quarter worth approximately $31,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NSC shares. Evercore set a $358.00 price objective on Norfolk Southern in a research report on Thursday, July 23rd. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. TD Cowen upped their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Susquehanna raised their price target on shares of Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Stock Up 0.4%

NSC opened at $347.15 on Friday. The firm has a market cap of $77.97 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 6.12 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 firm’s 50-day simple moving average is $327.49 and its 200-day simple moving average is $313.05. 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 posted its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.29 EPS. Equities research analysts anticipate that Norfolk Southern Corporation will post 12.66 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.08%.

About Norfolk Southern

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.