Commerce Bank Makes New Investment in Norfolk Southern Corporation $NSC

Commerce Bank bought a new stake in Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 41,955 shares of the railroad operator’s stock, valued at approximately $13,199,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Exencial Wealth Advisors LLC boosted its stake in Norfolk Southern by 1.1% in the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock valued at $929,000 after acquiring an additional 35 shares during the last quarter. Sovereign Financial Group Inc. lifted its stake in shares of Norfolk Southern by 3.3% in the 1st quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock valued at $318,000 after purchasing an additional 35 shares during the period. Bar Harbor Wealth Management boosted its position in shares of Norfolk Southern by 0.6% in the 1st quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator’s stock worth $1,805,000 after purchasing an additional 36 shares during the last quarter. Apollon Financial LLC grew its stake in shares of Norfolk Southern by 4.3% during the first quarter. Apollon Financial LLC now owns 881 shares of the railroad operator’s stock worth $253,000 after purchasing an additional 36 shares during the period. Finally, Moss Adams Wealth Advisors LLC increased its holdings in Norfolk Southern by 4.6% in the first quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator’s stock valued at $237,000 after purchasing an additional 36 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $350.77 on Friday. The company has a fifty day moving average price of $328.23 and a 200 day moving average price of $313.31. The firm has a market cap of $78.79 billion, a PE ratio of 29.93, a PEG 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 1-year low of $268.23 and a 1-year high of $358.60.

Norfolk Southern (NYSE:NSC) last released 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. 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 company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $3.29 EPS. Research analysts predict that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were paid a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.5%. Norfolk Southern’s payout ratio is presently 46.08%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings raised shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Susquehanna upped their price objective 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. Finally, Wall Street Zen upgraded Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat.com, Norfolk Southern currently has a consensus rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Company 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.