Dearborn Partners LLC Takes $972,000 Position in Norfolk Southern Corporation $NSC

Dearborn Partners LLC acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 3,090 shares of the railroad operator’s stock, valued at approximately $972,000.

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

Norfolk Southern Stock Performance

Shares of NSC opened at $347.32 on Friday. The company’s 50 day simple moving average is $331.90 and its 200-day simple moving average is $314.78. The firm has a market cap of $78.01 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 5.29 and a beta of 1.27. Norfolk Southern Corporation has a 12-month low of $268.23 and a 12-month high of $358.60. 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 (NYSE:NSC) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 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 firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the firm earned $3.29 EPS. Norfolk Southern’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities analysts predict that Norfolk Southern Corporation will post 12.74 EPS for the current year.

Norfolk Southern Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. BMO Capital Markets raised their target price on Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Evercore set a $358.00 price target on shares of Norfolk Southern in a research note on Thursday, July 23rd. Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Susquehanna boosted their price objective 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. Finally, UBS Group restated a “neutral” rating and issued a $363.00 target price on shares of Norfolk Southern in a report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.