Diversify Wealth Management LLC Invests $855,000 in Norfolk Southern Corporation $NSC

Diversify Wealth Management LLC bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,739 shares of the railroad operator’s stock, valued at approximately $855,000.

A number of other institutional investors have also recently added to or reduced their stakes in NSC. Gilbert & Cook Inc. boosted its position in Norfolk Southern by 1.4% during the fourth quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator’s stock valued at $726,000 after acquiring an additional 35 shares during the last quarter. Moss Adams Wealth Advisors LLC lifted its stake in shares of Norfolk Southern by 4.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock valued at $228,000 after purchasing an additional 35 shares during the period. Confluence Wealth Services Inc. boosted its position in shares of Norfolk Southern by 1.1% during the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock valued at $892,000 after purchasing an additional 35 shares in the last quarter. Exencial Wealth Advisors LLC boosted its position in shares of Norfolk Southern by 1.1% during the 4th quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock valued at $929,000 after purchasing an additional 35 shares in the last quarter. Finally, Sovereign Financial Group Inc. grew its stake in Norfolk Southern by 3.3% during the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock worth $318,000 after purchasing an additional 35 shares during the period. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $337.98 on Friday. The firm has a 50-day moving average of $314.23 and a 200-day moving average of $304.16. The company has a market cap of $75.91 billion, a P/E ratio of 28.47, a P/E/G ratio of 6.00 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. Norfolk Southern Corporation has a one year low of $264.01 and a one year high of $339.77.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.Norfolk Southern’s revenue was up .2% on a year-over-year basis. During the same period last year, the business posted $2.69 earnings per share. Equities research analysts forecast that Norfolk Southern Corporation will post 12.24 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio (DPR) is currently 45.49%.

Analyst Upgrades and Downgrades

NSC has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Norfolk Southern from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Jefferies Financial Group dropped their target price on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Barclays increased their target price on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Evercore set a $325.00 price target on shares of Norfolk Southern in a research note on Friday, April 24th. Finally, Wolfe Research upped their price objective on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Six research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $329.35.

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.