Dakota Wealth Management acquired a new stake in shares of Norfolk Southern Co. (NYSE:NSC – Get Rating) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,549 shares of the railroad operator’s stock, valued at approximately $1,013,000.
Several other large investors have also modified their holdings of the stock. Vectors Research Management LLC raised its stake in Norfolk Southern by 468.8% during the fourth quarter. Vectors Research Management LLC now owns 91 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 75 shares during the period. Blume Capital Management Inc. purchased a new position in shares of Norfolk Southern in the 1st quarter worth $29,000. Concord Wealth Partners boosted its holdings in Norfolk Southern by 2,300.0% in the first quarter. Concord Wealth Partners now owns 120 shares of the railroad operator’s stock valued at $34,000 after acquiring an additional 115 shares during the last quarter. Rational Advisors LLC purchased a new stake in Norfolk Southern during the first quarter valued at about $36,000. Finally, HWG Holdings LP acquired a new stake in Norfolk Southern during the fourth quarter worth about $43,000. 73.44% of the stock is currently owned by hedge funds and other institutional investors.
Norfolk Southern Price Performance
Shares of NSC stock opened at $245.93 on Friday. The firm has a fifty day moving average of $243.97 and a two-hundred day moving average of $250.24. The firm has a market cap of $57.76 billion, a P/E ratio of 19.58, a P/E/G ratio of 1.78 and a beta of 1.32. Norfolk Southern Co. has a 1-year low of $217.00 and a 1-year high of $299.20. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.10 and a quick ratio of 0.98.
Norfolk Southern (NYSE:NSC – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The railroad operator reported $3.45 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.03). Norfolk Southern had a return on equity of 22.42% and a net margin of 25.57%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the business posted $3.28 earnings per share. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, research analysts anticipate that Norfolk Southern Co. will post 13.66 earnings per share for the current fiscal year.
Norfolk Southern Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Saturday, August 20th. Investors of record on Monday, August 8th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, August 5th. Norfolk Southern’s dividend payout ratio is currently 39.49%.
Insider Buying and Selling
In other Norfolk Southern news, Director James A. Squires sold 105,420 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $248.81, for a total transaction of $26,229,550.20. Following the completion of the sale, the director now owns 42,728 shares in the company, valued at $10,631,153.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
NSC has been the topic of several research analyst reports. Cowen reduced their price objective on Norfolk Southern from $331.00 to $316.00 in a research note on Thursday, July 28th. Evercore ISI dropped their price objective on shares of Norfolk Southern from $278.00 to $266.00 and set an “outperform” rating for the company in a research report on Tuesday, July 12th. Susquehanna cut their target price on shares of Norfolk Southern from $350.00 to $275.00 in a research note on Wednesday, July 6th. Cowen decreased their price target on shares of Norfolk Southern from $331.00 to $316.00 in a research report on Thursday, July 28th. Finally, Barclays cut their price objective on Norfolk Southern from $300.00 to $255.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $283.10.
Norfolk Southern Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.
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