RMR Wealth Builders acquired a new stake in shares of Norfolk Southern Corp. (NYSE:NSC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 463 shares of the railroad operator’s stock, valued at approximately $81,000.
Several other large investors also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC increased its stake in shares of Norfolk Southern by 41.6% in the second quarter. Orion Portfolio Solutions LLC now owns 1,491 shares of the railroad operator’s stock worth $262,000 after buying an additional 438 shares during the period. WealthPLAN Partners LLC purchased a new stake in Norfolk Southern during the 2nd quarter valued at $1,009,000. WFA of San Diego LLC purchased a new stake in Norfolk Southern during the 2nd quarter valued at $382,000. Great West Life Assurance Co. Can grew 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 acquiring an additional 2,784 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of 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 acquiring an additional 125 shares during the period. 66.94% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the company. Goldman Sachs Group raised their target price on Norfolk Southern from $213.00 to $235.00 and gave the stock a “conviction-buy” rating in a research note on Tuesday, September 1st. Credit Suisse Group upped their target price on Norfolk Southern from $199.00 to $216.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Deutsche Bank raised their target price on shares of Norfolk Southern from $176.00 to $190.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. BMO Capital Markets lifted their price objective on Norfolk Southern from $185.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, June 3rd. Finally, Zacks Investment Research upgraded Norfolk Southern from a “sell” rating to a “hold” rating and set a $189.00 target price for the company in a research note on Friday, May 29th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Norfolk Southern presently has a consensus rating of “Hold” and an average target price of $195.64.
NYSE:NSC traded up $2.02 on Wednesday, reaching $224.05. 29,096 shares of the stock traded hands, compared to its average volume of 1,670,806. The company has a current ratio of 1.21, a quick ratio of 1.08 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $61.15 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 3.47 and a beta of 1.39. Norfolk Southern Corp. has a 12 month low of $112.62 and a 12 month high of $222.98. The company’s fifty day simple moving average is $205.76 and its 200 day simple moving average is $177.08.
Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, July 29th. The railroad operator reported $1.53 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.20. Norfolk Southern had a return on equity of 16.06% and a net margin of 20.47%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the company earned $2.70 EPS. The company’s quarterly revenue was down 28.7% compared to the same quarter last year. Equities analysts anticipate that Norfolk Southern Corp. will post 8.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 7th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, August 6th. Norfolk Southern’s payout ratio is presently 36.36%.
In related news, CEO James A. Squires sold 2,715 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $186.68, for a total value of $506,836.20. Following the sale, the chief executive officer now owns 66,357 shares in the company, valued at $12,387,524.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Joseph Wheeler sold 1,788 shares of Norfolk Southern stock in a transaction that occurred on Tuesday, August 11th. The stock was 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. Insiders own 0.32% of the company’s stock.
Norfolk Southern 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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