RMR Wealth Builders acquired a new stake in Norfolk Southern Corp. (NYSE:NSC) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 463 shares of the railroad operator’s stock, valued at approximately $81,000.
A number of other institutional investors have also added to or reduced their stakes in NSC. Orion Portfolio Solutions LLC boosted its stake in shares of Norfolk Southern by 41.6% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 1,491 shares of the railroad operator’s stock valued at $262,000 after purchasing an additional 438 shares in the last quarter. WealthPLAN Partners LLC acquired a new stake in shares of Norfolk Southern during the 2nd quarter valued at $1,009,000. WFA of San Diego LLC bought a new stake in Norfolk Southern during the 2nd quarter worth $382,000. Great West Life Assurance Co. Can increased its holdings in Norfolk Southern by 1.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 208,890 shares of the railroad operator’s stock worth $36,537,000 after purchasing an additional 2,784 shares in the last quarter. Finally, Cerity Partners LLC raised its position in Norfolk Southern by 2.0% in the second quarter. Cerity Partners LLC now owns 6,524 shares of the railroad operator’s stock valued at $1,145,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 66.94% of the company’s stock.
Several research analysts have recently issued reports on the company. Evercore ISI raised Norfolk Southern from an “in-line” rating to an “outperform” rating in a research note on Wednesday, May 20th. Morgan Stanley upped their price target on shares of Norfolk Southern from $122.00 to $132.00 and gave the company an “underweight” rating in a research report on Monday, August 3rd. TD Securities upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a report on Thursday, July 2nd. Deutsche Bank boosted their price objective on shares of Norfolk Southern from $176.00 to $190.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Finally, Zacks Investment Research raised Norfolk Southern from a “sell” rating to a “hold” rating and set a $189.00 target price for the company in a research report on Friday, May 29th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $195.64.
In related news, CEO James A. Squires sold 2,715 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $186.68, for a total value of $506,836.20. Following the transaction, the chief executive officer now directly owns 66,357 shares in the company, valued at approximately $12,387,524.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Michael Joseph Wheeler sold 1,788 shares of Norfolk Southern stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $210.51, for a total transaction of $376,391.88. Following the completion of the sale, the chief operating officer now directly owns 11,058 shares of the company’s stock, valued at approximately $2,327,819.58. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.
Shares of NSC stock traded up $2.02 during trading hours on Wednesday, hitting $224.05. 29,096 shares of the company were exchanged, compared to its average volume of 1,670,806. The firm has a market cap of $61.15 billion, a P/E ratio of 27.72, a P/E/G ratio of 3.47 and a beta of 1.39. Norfolk Southern Corp. has a fifty-two week low of $112.62 and a fifty-two week high of $222.98. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.08 and a current ratio of 1.21. The company has a 50 day simple moving average of $205.76 and a two-hundred day simple moving average of $177.08.
Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, July 29th. The railroad operator reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.20. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.06 billion. Norfolk Southern had a net margin of 20.47% and a return on equity of 16.06%. Norfolk Southern’s quarterly revenue was down 28.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.70 EPS. As a group, sell-side analysts expect that Norfolk Southern Corp. will post 8.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 7th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.68%. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.36%.
Norfolk Southern Company Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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