Taylor Hoffman Wealth Management decreased its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 14.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,697 shares of the railroad operator’s stock after selling 2,125 shares during the quarter. Norfolk Southern comprises about 2.0% of Taylor Hoffman Wealth Management’s portfolio, making the stock its 10th largest holding. Taylor Hoffman Wealth Management’s holdings in Norfolk Southern were worth $2,531,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Hayden Royal LLC lifted its holdings in shares of Norfolk Southern by 16.3% in the 2nd quarter. Hayden Royal LLC now owns 1,297 shares of the railroad operator’s stock worth $261,000 after acquiring an additional 182 shares during the last quarter. ARP Americas LP purchased a new position in Norfolk Southern in the 1st quarter worth about $299,000. Family Firm Inc. purchased a new position in Norfolk Southern in the 1st quarter worth about $218,000. BB&T Corp increased its stake in Norfolk Southern by 6.0% in the 1st quarter. BB&T Corp now owns 81,679 shares of the railroad operator’s stock worth $15,265,000 after buying an additional 4,639 shares during the period. Finally, Haverford Trust Co. increased its stake in Norfolk Southern by 20.3% in the 1st quarter. Haverford Trust Co. now owns 17,375 shares of the railroad operator’s stock worth $3,247,000 after buying an additional 2,935 shares during the period. Hedge funds and other institutional investors own 73.26% of the company’s stock.
Several research analysts recently commented on NSC shares. TD Securities reduced their price target on shares of Norfolk Southern from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Cowen reaffirmed an “outperform” rating and issued a $230.00 price target (up previously from $200.00) on shares of Norfolk Southern in a research note on Wednesday, April 24th. Argus raised their price target on shares of Norfolk Southern from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Goldman Sachs Group started coverage on shares of Norfolk Southern in a research note on Wednesday, July 10th. They issued a “buy” rating and a $237.00 price target on the stock. Finally, Barclays raised their price target on shares of Norfolk Southern from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $205.83.
NYSE NSC traded up $1.54 during trading on Monday, reaching $174.54. 39,905 shares of the company’s stock traded hands, compared to its average volume of 2,153,495. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.78 and a quick ratio of 0.68. The firm has a market cap of $44.74 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 1.37 and a beta of 1.31. The company’s 50 day simple moving average is $191.41 and its two-hundred day simple moving average is $190.73. Norfolk Southern Corp. has a 12-month low of $138.65 and a 12-month high of $211.46.
Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.77 by ($0.07). Norfolk Southern had a net margin of 24.15% and a return on equity of 18.24%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the business posted $2.50 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. Research analysts expect that Norfolk Southern Corp. will post 10.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 5th will be issued a $0.94 dividend. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is currently 39.54%.
In related news, Director Jennifer F. Scanlon bought 525 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was bought at an average cost of $191.52 per share, for a total transaction of $100,548.00. Following the purchase, the director now directly owns 525 shares of the company’s stock, valued at $100,548. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman James A. Squires sold 3,024 shares of Norfolk Southern stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $204.71, for a total transaction of $619,043.04. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.
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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