Stonebridge Capital Management Inc. Buys Shares of 4,120 Norfolk Southern Corporation $NSC

Stonebridge Capital Management Inc. acquired a new stake in Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,120 shares of the railroad operator’s stock, valued at approximately $1,296,000.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Barclays increased their target price on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Evercore set a $358.00 price objective on shares of Norfolk Southern in a report on Thursday, July 23rd. Stephens raised Norfolk Southern to a “hold” rating in a report on Wednesday, July 8th. Wall Street Zen upgraded Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Wells Fargo & Company increased their price target on Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Stock Up 0.4%

NYSE NSC opened at $352.60 on Thursday. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The company has a market capitalization of $79.20 billion, a P/E ratio of 30.09, a PEG ratio of 6.18 and a beta of 1.27. The company’s 50 day simple moving average is $330.95 and its 200 day simple moving average is $314.49. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. The company had revenue of $3.46 billion during 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 company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.29 EPS. Equities research analysts expect that Norfolk Southern Corporation will post 12.74 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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