Northwestern Mutual Wealth Management Co. Takes Position in Norfolk Southern Corporation $NSC

Northwestern Mutual Wealth Management Co. purchased a new position 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 purchased 22,369 shares of the railroad operator’s stock, valued at approximately $7,037,000.

A number of other hedge funds have also added to or reduced their stakes in NSC. Louisiana State Employees Retirement System purchased a new position in shares of Norfolk Southern during the first quarter valued at $3,272,000. O Shaughnessy Asset Management LLC grew its position in shares of Norfolk Southern by 9.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after buying an additional 3,887 shares during the last quarter. SCS Capital Management LLC purchased a new position in Norfolk Southern in the second quarter worth $13,837,000. B. Metzler seel. Sohn & Co. AG acquired a new position in Norfolk Southern during the 2nd quarter valued at about $3,669,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of Norfolk Southern during the second quarter valued at about $1,376,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Trading Up 0.0%

Shares of NYSE NSC opened at $350.77 on Monday. The stock has a market capitalization of $78.79 billion, a PE ratio of 29.93, a PEG ratio of 6.21 and a beta of 1.27. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve 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. The stock has a fifty day simple moving average of $328.23 and a 200-day simple moving average of $313.47.

Norfolk Southern (NYSE:NSC) last issued 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. The company 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 was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.29 EPS. On average, equities analysts forecast that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.08%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NSC. TD Cowen raised their price objective on Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. UBS Group reissued a “neutral” rating and set a $363.00 target price on shares of Norfolk Southern in a research note on Friday, July 24th. Susquehanna lifted their price target on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Robert W. Baird boosted their price objective on Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Wells Fargo & Company upped their target price on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock 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.