Diversify Advisory Services LLC Invests $957,000 in Norfolk Southern Corporation $NSC

Diversify Advisory Services LLC bought a new stake in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,788 shares of the railroad operator’s stock, valued at approximately $957,000.

Other large investors have also added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern in the 3rd quarter worth about $25,000. Meeder Asset Management Inc. purchased a new position in shares of Norfolk Southern during the 2nd quarter valued at about $27,000. BNP Paribas purchased a new position in shares of Norfolk Southern during the 2nd quarter valued at about $26,000. Financial Life Planners bought a new stake in Norfolk Southern in the 1st quarter worth approximately $33,000. Finally, Bayban bought a new stake in Norfolk Southern in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NSC shares. Barclays increased their price target 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. Robert W. Baird boosted their price objective on shares of 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 shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen increased their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern Stock Up 2.0%

Shares of Norfolk Southern stock opened at $345.56 on Thursday. 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 Corporation has a 52-week low of $268.23 and a 52-week high of $358.60. The stock has a market capitalization of $77.62 billion, a price-to-earnings ratio of 29.48, a P/E/G ratio of 6.00 and a beta of 1.27. The company’s 50 day moving average price is $326.76 and its 200-day moving average price is $312.66.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.20. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.29 EPS. Equities research analysts forecast that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is 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.