Texas Capital Bank Wealth Management Services Inc Makes New Investment in Norfolk Southern Corporation $NSC

Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,958 shares of the railroad operator’s stock, valued at approximately $616,000.

Several other hedge funds have also modified their holdings of the stock. JPL Wealth Management LLC acquired a new stake in shares of Norfolk Southern in the third quarter valued at approximately $25,000. BNP Paribas acquired a new position in Norfolk Southern during the 2nd quarter worth $26,000. Meeder Asset Management Inc. lifted its holdings in Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after buying an additional 67 shares in the last quarter. Financial Life Planners bought a new position in Norfolk Southern in the 1st quarter valued at $33,000. Finally, Bayban bought a new position in Norfolk Southern in the 4th quarter valued at $34,000. 75.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NSC shares. Barclays lifted their target price on Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Rothschild & Co Redburn raised their price target on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Evercore set a $358.00 price objective on Norfolk Southern in a research report on Thursday, July 23rd. UBS Group reissued a “neutral” rating and set a $363.00 price objective on shares of Norfolk Southern in a report on Friday, July 24th. Finally, Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Seven analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $340.90 on Tuesday. The firm has a fifty day moving average of $325.50 and a two-hundred day moving average of $311.88. The stock has a market capitalization of $76.57 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 5.92 and a beta of 1.27. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the business posted $3.29 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, equities research analysts predict that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be issued a dividend of $1.35 per share. The ex-dividend date is Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. Norfolk Southern’s dividend payout ratio (DPR) 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.