Ossiam acquired a new position in shares of Norfolk Southern Corp. (NYSE:NSC) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 2,747 shares of the railroad operator’s stock, valued at approximately $548,000.
Other institutional investors have also added to or reduced their stakes in the company. Krane Funds Advisors LLC acquired a new position in Norfolk Southern in the second quarter valued at approximately $26,000. Weaver Consulting Group bought a new stake in shares of Norfolk Southern during the 1st quarter valued at $30,000. AGF Investments LLC lifted its stake in shares of Norfolk Southern by 173.5% in the 2nd quarter. AGF Investments LLC now owns 186 shares of the railroad operator’s stock valued at $37,000 after purchasing an additional 118 shares during the period. Coastal Capital Group Inc. acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at $40,000. Finally, Bedel Financial Consulting Inc. bought a new position in shares of Norfolk Southern in the 2nd quarter worth $41,000. Institutional investors own 72.28% of the company’s stock.
A number of equities research analysts recently commented on NSC shares. Bank of America lifted their price objective on Norfolk Southern from $212.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. Cascend Securities lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Morgan Stanley set a $130.00 target price on Norfolk Southern and gave the stock a “sell” rating in a report on Monday, July 8th. Goldman Sachs Group began coverage on Norfolk Southern in a research report on Wednesday, July 10th. They set a “buy” rating and a $237.00 target price for the company. Finally, ValuEngine cut Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Two 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 company has an average rating of “Hold” and an average target price of $206.39.
In related news, Director Jennifer F. Scanlon acquired 525 shares of the stock in a transaction dated Monday, July 29th. The stock was bought at an average price of $191.52 per share, with a total value of $100,548.00. Following the completion of the transaction, the director now directly owns 525 shares of the company’s stock, valued at $100,548. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.
Shares of NYSE:NSC traded down $2.13 during trading on Wednesday, hitting $176.45. 58,306 shares of the company’s stock traded hands, compared to its average volume of 1,365,859. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $178.07 and a 200-day moving average price of $190.20. Norfolk Southern Corp. has a 52 week low of $138.65 and a 52 week high of $211.46. The company has a market cap of $46.71 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 1.48 and a beta of 1.34.
Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.77 by ($0.07). The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.95 billion. Norfolk Southern had a return on equity of 18.24% and a net margin of 24.15%. Norfolk Southern’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.50 earnings per share. On average, analysts predict that Norfolk Southern Corp. will post 10.62 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 5th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, August 2nd. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.86. Norfolk Southern’s dividend payout ratio is 39.54%.
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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