8,623 Shares in Norfolk Southern Corporation $NSC Purchased by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC purchased a new stake in Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,623 shares of the railroad operator’s stock, valued at approximately $2,713,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPL Wealth Management LLC purchased a new stake in shares of Norfolk Southern in the 3rd quarter worth about $25,000. BNP Paribas purchased a new stake in Norfolk Southern in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. boosted its holdings in shares of Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 67 shares during the last quarter. Financial Life Planners purchased a new stake in shares of Norfolk Southern in the first quarter valued at $33,000. Finally, Bayban acquired a new position in Norfolk Southern in the fourth quarter valued at $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NSC. TD Cowen increased their target price on Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Citigroup boosted their price objective on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Robert W. Baird upped their price objective on Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Susquehanna boosted their price target on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat, Norfolk Southern currently has an average rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern Price Performance

NSC opened at $334.69 on Monday. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60. The firm has a market cap of $75.17 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 5.92 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. The company has a fifty day simple moving average of $324.87 and a 200 day simple moving average of $311.52.

Norfolk Southern (NYSE:NSC) last posted 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 firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.29 EPS. Equities research analysts expect that Norfolk Southern Corporation will post 12.66 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. Norfolk Southern’s 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.