Kendall Capital Management Purchases Shares of 1,726 Norfolk Southern Corporation $NSC

Kendall Capital Management 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 SEC. The fund purchased 1,726 shares of the railroad operator’s stock, valued at approximately $543,000.

Several other institutional investors have also recently made changes to their positions in the company. Compass Financial Management LLC purchased a new stake in shares of Norfolk Southern in the second quarter worth $140,000. Elevation Point Wealth Partners LLC purchased a new position in Norfolk Southern during the second quarter worth about $3,541,000. Daiichi Life Insurance Co. Ltd. purchased a new position in Norfolk Southern during the second quarter worth about $1,757,000. Commerce Bank bought a new position in Norfolk Southern in the 2nd quarter worth about $13,199,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Norfolk Southern in the 2nd quarter worth about $7,037,000. Institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

NSC has been the subject of a number of research analyst reports. Rothschild & Co Redburn lifted their price target on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Barclays boosted their price objective on Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. BMO Capital Markets upped 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 report on Monday, July 27th. Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Susquehanna lifted their target price on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Seven research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $348.00.

Norfolk Southern Trading Up 1.2%

NYSE:NSC opened at $350.77 on Friday. The company has a 50-day moving average price of $328.23 and a 200-day moving average price of $313.31. The stock has a market cap of $78.79 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 6.21 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 12 month low of $268.23 and a 12 month high of $358.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly 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. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the previous year, the company earned $3.29 earnings per share. Norfolk Southern’s quarterly revenue was up 12.5% on a year-over-year basis. Equities analysts predict that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced 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 was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.5%. Norfolk Southern’s dividend payout ratio 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.